1, fiscal revenue (mainly taxes).
Taxation is an important form for the state to participate in the distribution of social products by virtue of political power, which has the characteristics of free, compulsory, fixed and authoritative. The way for tax to promote the realization of fiscal goals is to flexibly use various tax elements. 1) Set taxes and tax items appropriately to form a reasonable tax system, so as to determine the scope and level of tax adjustment and make all taxes cooperate with each other. 2) Determining the tax rate and defining the quantitative boundary of tax adjustment are the core of tax as a policy means to play a guiding role. 3) Provide necessary tax relief and bonus.
Therefore, taxation can adjust the industrial structure by adjusting the tax rate and increasing or decreasing taxes, realize the optimal allocation of resources, and adjust personal income and wealth through progressive personal income tax and property tax to realize fair distribution.
2. Financial expenditure.
Fiscal expenditure is the general expenditure (or current account expenditure) carried out by the government to meet the needs of the public. It includes purchase expenditure and transfer expenditure, and has different influences on the national economy.
From the final use of purchase expenditure, administrative expenditure, national defense expenditure, education, science and health and other financial expenditures are essential social welfare undertakings, and the government's investment ability and investment direction play a key role in socio-economic structural adjustment and economic development.
Transfer expenditure is an important tool for the government to carry out macro-control and management, especially to adjust the balance of total social supply and demand. For example, social security expenditure and financial subsidies play the role of "safety valve" and "lubricant" in modern society. When economic depression and unemployment increase, the government will increase social security expenditure and financial subsidies, improve social purchasing power, and help restore the balance between supply and demand; On the contrary, reduce the corresponding two kinds of expenses to avoid excessive demand.
3. National debt.
National debt is a form of raising financial funds according to the principle of paid credit, and it is also an important means to realize macro-control and fiscal policy. The regulatory effect of national debt on the economy is mainly reflected in three aspects: First, the crowding-out effect. That is, by issuing government bonds, the private sector's investment or consumption funds will be reduced, thus playing a role in regulating consumption and investment. The second is monetary effects. This refers to the change of money supply and demand caused by the issuance of national debt. On the one hand, it may turn "potential money" into real money in circulation. On the other hand, it may transfer the money stored in the private sector to the government or the central bank to purchase government bonds to increase the money supply. The third is the interest rate effect. This refers to the adjustment of the interest rate of national debt and the change of supply and demand in the capital market to influence the market interest rate level, thus having an expansion or contraction effect on the economy. Under the condition of modern credit, the operation of national debt market is the main carrier of communication between fiscal policy and monetary policy, and it is also the coupling point between them. Therefore, when the national debt is implemented as a fiscal policy tool, it should be coordinated with monetary policy in addition to other fiscal policy tools.
4. Government investment. Government investment refers to the constructive expenditure of finance for capital projects, which will eventually form various fixed assets. Government investment projects mainly refer to those basic industries, public facilities and emerging high-tech leading industries with natural monopoly characteristics, large external effects and high industrial relevance, which have demonstration and induction functions. This kind of investment is the driving force of economic growth and has multiplier effect. The multiplier effect of investment refers to the multiple of income growth brought by each increase of 1 yuan investment.
Second, fiscal policy refers to the guiding principles of fiscal work stipulated by the state according to the tasks of political, economic and social development in a certain period, and influences and regulates the total demand through changes in fiscal expenditure and tax policies. Fiscal policy is an integral part of the country's overall economic policy.