Bianjie

[journey]

Democratic cabinet actions to reverse the socialist economy into a deregulated liberal one
13 April 5680 (backdated)



Running in the 5678 general election, one of the main talking points that the leaders of the Democratic People's Party have been promising to the voters has been the liberalisation of the nation's economy, relaxing regulations on businesses, lowering taxes, as well as incentivising the new businesses to either come into Bianjie from abroad, or local entrepreneurs to make their businesses here, instead of going in other states and acting as the off-shore corporations. On Thursday, the new democratic government presented its plan of action to tackle those promises.

Fodo C'ygiya, the Minister of Finance and the right-hand man of the Premier Eidu Monggo, talking at the Ambagašan Economic Forum, has reaffirmed the stance and stated that the government wishes to drop a number of state regulations on various aspects of life and economic sectors, including the very important banking industry. According to C'ygiya, the State Council plans to create an oversight body which will serve as the audit to analyse all the unnecessary legislation that is "preventing any growth, scaring the potential investments away", with the government then taking decisive action. At the same time, the body would also be a hotline with the government for small and medium enterprises, as well as corporations, to give feedback on the issue, or simply put, to complain. "But, I would like to reassure citizens that we are not going completely lawless, we are simply getting rid of the economy, which is overly controlled by the state, in our opinion", said minister C'ygiya.

At the same time, there is an unspoken goal within the cabinet to push for various policies which would make the Bank of Bianjie lower the interest rates. Even though the BOB is formally independent, there is a certain degree of influence the governments usually try to have over some of its decisions; however, it is usually done behind the scenes, with little to no information leaked outside, in order not to upset the stock market. Yet, the current Governor, Kawase Oonagaa, was appointed by then-Premier, Ajigen Kode, and while he is formally apolitical, people within the BOB say he was and still is reluctant to work with the DPP government. At the same time, Oonagaa himself believes in the need to lower the rates, possibly by 25 points, sources close to the Governor report, and depending on the results of the new government, the decision to cut may come earlier than expected.

There is still one more thing that concerns the new liberal government, and it is obviously the tax system. While the DPP leadership is rather cautious to initiate any possible reversal of the progressive tax law adopted less than 40 years ago, as it could begin the irreversible chain process of toxic and bitter personalist politics, there is still a big desire to amend the tax system, lowering the taxes for the general populace as promised, however, additionally to drop taxes more radically for corporations and businesses, as the democratic coalition sees it as a burden on the economic stimulation a growth, something which the Monggo government maniacally goes after in their economic vision for Bianjie.



Shogyoshi (商業紙, Commercial Paper) is the daily and the largest financial newspaper in Bianjie, founded in 5497. 
@Shogyoshi
#economy
#growth
#regulations