In a recent turn of events, the Pheu Thai Party has decided to withdraw its promised 10,000-baht handout plan initially announced during its election campaign. The party cites the high cost of the Move Forward Party’s welfare programs as the primary reason behind this decision, making the handout unfeasible. At present, the two parties form a key partnership in an eight-party coalition. Although Move Forward has gained ten more seats than Pheu Thai after the May 14 election, their united front shows signs of strain.
Pheu Thai remains committed to supporting the Move Forward leader, Pita Limjaroenrat, as the next prime minister and has no intention of abandoning the coalition. However, the competition for the House speaker’s seat has highlighted the rivalrous dynamic between the two parties. Amidst calls for unity, rumors are circulating that Pheu Thai may join an alternative coalition if the current arrangement collapses.
The Pheu Thai economic team, led by Deputy Secretary-General Phaophum Rojanasakul, has opted to eliminate the 10,000-baht digital money handout due to the 500-billion-baht cost of Move Forward’s welfare programs. Phaophum stated, “For the 10,000-baht digital wallet policy of the Pheu Thai Party, we still see a necessity to stimulate the national economy amid its weakness. But the policy would cost the state about 560 billion baht while the leading party’s welfare policies would require a similar amount of money. So, we must shelve this project.”
Pheu Thai focused on capital-oriented policies to drive economic growth with equality. The now-scrapped handout scheme aimed to provide every Thai national aged 16 and above with a digital wallet containing 10,000 baht for use within six months at businesses located within four kilometers of their residence. Srettha Thavisin, a businessman and Pheu Thai prime ministerial candidate, previously claimed that this handout would generate an “economic tsunami” with nationwide positive effects.
On the other hand, the Move Forward Party has pledged an all-inclusive, comprehensive welfare system covering all age groups. Some of the notable proposals include a 1,200-baht monthly child support grant and a 3,000-baht monthly pension for the elderly. As the political landscape continues to shift, the future of these welfare programs and the unity of the Pheu Thai and Move Forward parties remains uncertain.
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