Finance Ministry is pondering year-end shopping stimulus scheme

[rooster59]

Finance Ministry is pondering year-end shopping stimulus scheme

 

 

The Finance Ministry is pondering year-end shopping stimulus to be introduced during the last two months of the year in order to spur the economy by providing incentive for consumers to spend, said Finance Minister Apisak Tantiworawong on Friday (Nov 3).

 

However, he noted that there were drawbacks in this particular economic stimulus measure as proven in the past two years of its implementation – that is many consumers withheld their spending until the launch of the stimulus scheme.

 

He said the Finance Ministry didn’t want such practice to be repeated this year and, hence, the scheme, if it is to be implemented, will have immediate effect once it is announced so that shoppers will start spending.

 

Full story: http://englishnews.thaipbs.or.th/finance-ministry-pondering-year-end-shopping-stimulus-scheme/

 

 

 

-- © Copyright Thai PBS 2017-11-04

 

[Srikcir]

6 hours ago, rooster59 said:

The Finance Ministry is pondering year-end shopping stimulus

Why so complicated? Just reduce the VAT to 5%.

Immediate affect and can be raised back to 7% at any time.

[eliotness]

Many Thais are heavily in debt and increased spending at the year end will probably make it worse.

[Langsuan Man]

When the vast majority of Thais don't pay any income tax or even file, these government giveaways are just like US Republican's tax plans; they only help a very small part of the population 

 

Post # 2 is the way to stimulate an economy, not restrict it to a small number of players 

[Eric Loh]

All the posters got it right but not the Finance Ministry. This kind of short term program will not address the structural problems of highly indebted and low wage country. 

 

If FM aimed at short term measures, it must be consistent with the necessary structural reforms in the long run. The short-term economic policies should be designed and implemented as to front-load the long-term structural reform.

 

The long term reform should address fiscal policies like wage and tax and policies to grow the domestic economy. It should narrow the inequality and budget more for rural provinces development. 

 

Honestly I doubt this is the mind of the establishment and the wealthiest. They will continue to throw crumbs to the people and short term policies to hide their short falls.