In a battle of words and political will, the government has taken up arms over the Move Forward Party’s (MFP) questioning of its 10,000 baht digital money handout plan. The opposition cast doubt on the administration, stating it’s retreating on its pledge to provide financial help. Prime Minister Srettha Thavisin bristled at MFP Deputy Leader Sirikanya Tansakun’s scrutiny.
Reprimanding her, he noted, “Don’t assume that others will always conform to your expectations. Cease casting shadows on the government’s genuine intentions to uplift the citizens’ living standards and stop muddying the waters for the general public.”
The government, in its quest, has pledged its interest in instituting a new law allowing for a whopping 500 billion baht (approx US$13.75 billion) loan to fund the said scheme. However, Sirikanya fears that the bill might infringe the constitution and tread on fiscal discipline norms. She contested that the scheme isn’t so significant as to justify such a hefty loan.
However, presenting the other side of the coin, Pheu Thai Party spokesperson Danuporn Punnakan accentuated the scheme’s necessity. It involves infusing funds into the system to stimulate grassroots-level spending and breathe life into the economy.
As detailed in the Bangkok Post report, the handout targets those aged 16 and above, earning less than 70,000 baht a month, and with less than 500,000 baht in their bank accounts. Around 50 million individuals, scaled down from the original 54.8 million, could benefit after excluding those above the threshold earning and saving limits.
In opposition to Sirikanya’s perspective, the government insists on the urgency of economic stimulation. This happens especially at a time when grassroots-level buyers have low spending capacity. The proposed handout aims to funnel money fairly to the grassroots rather than selective groups, maintained Danuporn.
“The MFP may not find this pressing,” he said, “But us, Pheu Thai MPs, are very mindful of the hardships being faced by these people. The government is endeavoring to boost public confidence, a crucial element of economic stimulation.”
Responding to anxieties about fiscal discipline, the government has forged alliances with the National Economic and Social Development Council and the Bank of Thailand to supervise the project. It considered multiple viewpoints in revising the scheme before the Friday announcement.
The scheme has sparked a flurry of varied public reactions. Some, like Wandi Khaosanit, a 60-year-old online lottery operator, have dismissed the plan. They argue that not everyone with savings above 500,000 baht is wealthy. However, others, like vendors in the northeastern province of Khon Kaen, have expressed their support despite the potential financial burden of the borrowing.
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