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You Won’t Believe This Controversial Plan to Fight Poverty: Will It Break the Bank or Save the Nation?

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Pheu Thai’s plan to transfer payments legally into every Thai citizen’s digital wallet has faced criticism from rival political parties. However, the party has explained its strategy to the Election Commission, affirming that it’s not just a political tactic. The plan aims at stimulating the local economy and uses block-chain technology to ensure that the money must be spent within six months and within 4 kilometers of each recipient’s registered address.

The controversial plan has drawn criticisms from economists, legal experts, and politicians, with many warning that its estimated cost of over 500 billion baht could lead to a financial burden for the country. Some even argue that the proposed digital wallet scheme may violate the Currency Act. Former Bank of Thailand governor Tarisa Watanagase has labeled the plan “irresponsible,” suggesting that the government would have to take out massive loans to finance it.

In response, Pheu Thai remains confident in its plan, stating that it will continue to explain its policies to the people. The party believes that its policies and candidates have credibility, and therefore, it will win the upcoming election. When questioned about recent polls indicating Pheu Thai’s challenging position in the election, the party’s representatives assured that they are not disheartened and are focused on their campaign efforts.

Pheu Thai emphasizes that winning the election by a landslide is crucial to forming the next government. The party does not see Move Forward as a competitor, as its primary adversary is poverty. The plan to transfer payments into digital wallets is an innovative approach that the party hopes will make a difference in addressing poverty and strengthening the local economy.

The party’s leader, Srettha, stepped down from his position as chief executive and president of property giant Sansiri Plc to focus on the election. His background as a property tycoon turned politician lends credibility to Pheu Thai’s economic policy proposals. Whether or not the party’s plans come to fruition will depend on the election’s outcome and the subsequent actions taken by the authorities.

In conclusion, the Pheu Thai party’s plan for utilizing digital wallet technology to stimulate the local economy has faced criticism. However, the party stands firm in its belief that its innovative approach to tackling poverty will ultimately benefit the country, and with continued support from the people, it remains optimistic about its electoral success. While detractors may argue against the financial and legal viability of their proposals, Pheu Thai’s focus on alleviating poverty and investing in the local economy positions them as an influential force in the upcoming elections.

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