New fiscal priority
China Daily | Updated: 2011-03-01 07:46
Premier Wen Jiabao's announcement that the State Council will discuss a plan to raise the threshold of personal income tax was welcome news to those who followed his online chat with the public on Sunday.
But it was also good news to domestic consumers, especially those from middle and low-income families. Wen's remarks reassured them that policymakers are beginning to tilt fiscal expenditure more in their favor.
Since the proposal will be delivered to the National People's Congress Standing Committee for review, we strongly urge the country's top legislature to endorse it.
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