Thai PM admits government can only afford single 5,000 baht subsidy payment

[webfact]

Thai PM admits government can only afford single 5,000 baht subsidy payment

 

 

Thailand’s Government can afford to make only the April payment of the 5,000 baht cash hardship subsidies to nine million freelancers, self-employed, small retailers and employees not covered by the social security scheme.

 

Prime Minister Prayut Chan-o-cha told a news conference today that the Government will use residual budget in the Central Fund, estimated at about 50 billion baht, which will cover one payment.

 

He said that, initially, the Government decided to provide the cash to just three million people but, after hearing complaints from more people about their hardship, resulting from the COVID-19 pandemic, the Government decided to extend the subsidy to cover six million more claimants.

 

For the 11 million employees covered by the social security scheme, who are also eligible for the 5,000 baht, he said that the Government will use 200-300 billion baht from the Social Security Fund.

 

Source: https://www.thaipbsworld.com/thai-pm-admits-government-can-only-afford-single-5000-baht-subsidy-payment/

 

-- © Copyright Thai PBS 2020-04-16

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[Thaiwrath]

1 minute ago, webfact said:

Thai PM admits government can only afford single 5,000 baht subsidy payment

Take the rest out of the trough, or have you greedy <deleted> cleaned that out already ?

[Chelseafan]

Well for a start why not reduce the military budget by 20%, that'll cover it.

 

[AlexRich]

Then they will have to open up the economy or people will be taking to the streets. Impoverishing the population will end his premiership.

[AlexRich]

1 minute ago, Chelseafan said:

Well for a start why not reduce the military budget by 20%, that'll cover it.

 

How would Thailand defend itself without the submarines?

[torturedsole]

So the obvious question is:  where's all the money gone, Prayut?

[torturedsole]

2 minutes ago, AlexRich said:

Then they will have to open up the economy or people will be taking to the streets. Impoverishing the population will end his premiership.

It will.  This isn't going to end well but the population of LOS will come out on top.  Trust me.  

[timendres]

Fail 4.0

[ukrules]

BOT can issue more money, it never runs out.

 

They can afford to do this for years if needed.

[amykat]

I’m reminded of Warren Buffet saying, “Only when the tide goes out do you discover who has been swimming naked.” 
 

???? 

[Trip Hop]

So a country with an alleged circa $175Bn in foreign exchange reserves alone can only afford to shell out approx $1.36Bn to help its people during this time? I think someone is telling porkies somewhere?

[bangkokfrog]

13 minutes ago, Trip Hop said:

So a country with an alleged circa $175Bn in foreign exchange reserves alone can only afford to shell out approx $1.36Bn to help its people during this time? I think someone is telling porkies somewhere?

My thoughts exactly. The only reason I can think of for not tapping into foreign reserves if this amount of money really exists is to prop up the baht. However, (rhetorical question) I wonder who would benefit most from this?

Edited April 15, 2020 by bangkokfrog

[Monomial]

How about selling a submarine to pay for it then?

 

Everyone else in Thailand is being forced to sell assets to meet their obligations. You aren't special.

[unamazedloso]

sell the submarine? Take pay cuts? Sell some watches? etc...

[Grumpy John]

2 hours ago, AlexRich said:

How would Thailand defend itself without the submarines?

Judging by what occurred in WW2 they give up pretty quick so their will be no need for any defence.

[Thailand]

Scandalous, throwing the people scraps. Probably saying in private  "let them eat rice"  but many probably don't have that now.

 

 

[kevin612]

He has money for the rich but not the poors. Print more money that can help the poors and also lower the value of baht.

[colinneil]

Main reason for only being able to pay people 5.000 baht once, is because little P and cronies have squandered many millions on useless submarines, and Stryker apcs, so there is little left for the people.

 

[Charlie Jacobsen]

2 hours ago, torturedsole said:

It will.  This isn't going to end well but the population of LOS will come out on top.  Trust me.  

Never trust anyone who says trust me

[FarFlungFalang]

2 hours ago, AlexRich said:

Then they will have to open up the economy or people will be taking to the streets. Impoverishing the population will end his premiership.

They won’t have to open the economy and if people hit the streets Prayuth can bring his toys out to play.Why do you think he bought so many toys?

[cornishcarlos]

1 minute ago, Charlie Jacobsen said:

Never trust anyone who says trust me

 

With these guys, it is generally acceptable to believe the complete opposite of what they say...

 

No coup coming = Coup the next day

There will be no flooding = flooding next day

There will be no drought = drought next day

100% under control = 100% gone to rat sheet

Computer system can handle 3.95 million per minute = over loaded after 3 seconds

 

You get the picture..

 

[Misterwhisper]

Yup, affording 45 billion THB is a real problem, while shaking 300 billion THB out of your sleeve for useless submarines is not. Ah, priorities...

[OnTheGround]

What he promised, and what he now say he can't deliver.

When all working class wake up to this news, this can become really nasty.

The country use billions to protect the value of the baht last 10 years, throw away billions on Subs the country don't need.

Now 20-30 million citizens are hungry and desperate,  and all they get is - 'sorry Somchai, our country can't afford to help you'.

 

Last week 100 hungry desperate people was turned away, when they pleaded their hunger.

We can assume what will happen within 3 months time, and it won't be pretty.

Stay safe.

[Borzandy]

Yes sure cause " Thailand plans $33 billion public-private investment projects"

[John1012]

2 hours ago, AlexRich said:

How would Thailand defend itself without the submarines?

And the aircraft carrier and blimp? Which one of the 500 generals/senior orificers will lead the defense ?  (500 is just a random number, may be less)

 

[FarFlungFalang]

24 minutes ago, colinneil said:

Main reason for only being able to pay people 5.000 baht once, is because little P and cronies have squandered many millions on useless submarines, and Stryker apcs, so there is little left for the people.

 

No Colin they haven't squandered it they are saving it for emergency trough filling duties for now it in special little piggy's banks!When they become unemployed they will then use the money wisely.

 

 

Edited April 15, 2020 by FarFlungFalang

[ezzra]

Take a leaf of Australia who poured 220 billion dollars to make sure it will comes out relatively ok when this thing is over...  It takes a crisis for the naked truth to finally reveals itself that this country is running on empty and on a wing and a prayer and everything is baseless tower of cards about to collups any minute, if i were a Thai i would be very ashamed right now to hear those words coming out of our PM...

[z42]

Oh so predictable. Several institutions are grossly over budgeted for in relation to their actual usefulness to the country.

 

To basically give a fur Q to the neediest when they are at their most helpless deserves rebellion in return.

 

The people won't forget this, no amount of hollow apologies and propaganda will quell this going forward.

[ChrisY1]

This government does not like the poor......almost all past governments have been the same!

[Lacessit]

Every other country is printing more money. Complete BS to infer Thailand can't.

Not sure if Prayut is aware of it, but he is hated in Northern Thailand.