New stimulus package to boost spending power of low-income groups

[webfact]

New stimulus package to boost spending power of low-income groups

By The Nation

 

 

The government will this week consider measures to increase the purchasing power of low-income groups and support small businesses.

 

Lavaron Sansnit, the director-general of the Fiscal Policy Office, said on Sunday that the Finance Ministry would urge the government’s centre for economic situation administration to approve the latest stimulus measures on Wednesday or Thursday.

 

Earlier, the government had said that it planned to spend Bt45 billion to boost consumption among grass roots people and support small businesses.

 

The Finance Ministry is working out details of the shopping stimulus. The government will support half of the daily consumption spending by low-income groups. The measure is expected to be implemented from October to December.

 

“We want to support as many people as possible, and people are expected to be invited to register for the scheme soon. The measure is aimed at supporting daily spending and reducing the cost of living; it is not a one-time spending on big items,” he clarified.

 

The concept is that each person will get about Bt3,000 from the government to partially pay for consumer daily spending with their own money, and consumers have to spend the money at small shops, as the government wants to support small businesses, he said.

 

Meanwhile, Anusorn Tamajai, an economist at Rangsit University, suggested that the government target low-income and small businesses, because shopping stimulus packages in the past had mostly benefited large businesses.

 

Anusorn said the government should target the 15 million consumers who hold state welfare cards.

 

Each cardholder may receive grants of about Bt2,500 to Bt5,000 cash handout or credit transferred to e-wallet, he said.

 

If the government spends Bt45 billion, then it would increase transactions in the market to Bt180 billion to Bt270 billion,  boosting economy growth by 0.3 percentage point.

 

The Bank of Thailand has forecast that the economy will shrink by 8.1 per cent this year due largely to the fallout from Covid-19. More workers are expected to be laid off if economic recovery is delayed by the threat of a second wave of infections.

 

Anusorn said the United Kingdom's Brexit deal will also affect Thailand’s export. Currently Thailand’s exports to Britain are worth about US$4 billion annually, representing 1.3 to 1.4 per cent of total exports.

 

The trade talk tensions between the EU and Britain have worried investors that it may lead to a no-Brexit deal when deadline is reached in December this year.

 

If there is no deal, Britain will allow 60 per cent of imported goods to have no tariffs in line with World Trade Organisation rules. If so, about 50 to 60 per cent of Thai products to Britain would have a lower tariff burden. These products would cover dog and cat foods, equipments to receive electronic signals, and jewellery, he added.

 

Source: https://www.nationthailand.com/business/30394478

 

-- © Copyright The Nation Thailand 2020-09-14

 

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[xtof2]

4 minutes ago, webfact said:

The government will this week consider measures to increase the purchasing power of low-income groups and support small businesses.

Yes, just consider it ! Come on, you should wait for a few more months ! 

Some people are dying... but you don't care.

[ezzra]

An article with hundreds of words that in practicality means nothing really but some kind of lip service to say: "hey look at us we're hard at work for you here" throwing big numbers into the air but very little if any will trickle down to the people who are in real need...

[Poet]

20 minutes ago, webfact said:

New stimulus package to boost spending power of low-income groups

This news will be welcomed by English teachers all over the kingdom.

 

[colinneil]

BIGGEST load of codswallop i have read for a while, all that BS which at the end of the day means almost nothing.

People are out of work, no money, no hope, and all this so-called government can do, is prattle on about helping small businesses, only business they care about is BIG business.

[Brunolem]

3 minutes ago, Poet said:

This news will be welcomed by English teachers all over the kingdom.

 

Unfortunately (Thai) English teachers can't read English... someone will have to tell them... 

[Poet]

 

28 minutes ago, webfact said:

Anusorn said the United Kingdom's Brexit deal will also affect Thailand’s export. Currently Thailand’s exports to Britain are worth about US$4 billion annually, representing 1.3 to 1.4 per cent of total exports.

 

The trade talk tensions between the EU and Britain have worried investors that it may lead to a no-Brexit deal when deadline is reached in December this year.

 

If there is no deal, Britain will allow 60 per cent of imported goods to have no tariffs in line with World Trade Organisation rules. If so, about 50 to 60 per cent of Thai products to Britain would have a lower tariff burden.

So, Anusorn is "worried" that a no-deal Brexit will mean that the massive EU tariffs will no longer apply to Thai products exported to the UK?

This guy, who can't figure out basic math, is an economist at Rangsit University?

Explains a lot.

 

Edited September 14, 2020 by Poet

[worgeordie]

I thought the PM, said he was not going to do it ?,

Something about the troughs are overflowing and

they have no where to put the excess ????

Regards Worgeordie

[Brunolem]

27 minutes ago, webfact said:

We want to support as many people as possible, and people are expected to be invited to register for the scheme soon

What about starting by paying them their lowly retirement pensions, which have been postponed this month because the coffers are empty? 

[Poet]

I hereby call upon the government of Thailand to enter into a free trade agreement with the UK, including freedom of movement for both our peoples.

I can assure you that the British will stimulate as many packages as they can get their hands on.

The UK can now be easily accessed from anywhere in the world by dinghy.

 

 

Edited September 14, 2020 by Poet

[ChipButty]

This is far to intelligent for me I'll stick to the cooking post

[djayz]

35 minutes ago, webfact said:

consumers have to spend the money at small shops

I'm interested in knowing how this part is going to be enforced/regulated. In our village, the ONLY people making money are the local mom and pop shops. 

Edited September 14, 2020 by djayz

[PatOngo]

Here we go again! Another stimulus package, makes you wonder just who benefits most from these packages, and I'm sure it's not the people who need it most!

[PatOngo]

12 minutes ago, Brunolem said:

Unfortunately (Thai) English teachers can't read English... someone will have to tell them... 

Was they sat or was they stood?

[2 is 1]

2 minutes ago, PatOngo said:

Here we go again! Another stimulus package, makes you wonder just who benefits most from these packages, and I'm sure it's not the people who need it most!

Bang on! I know many people who have get benifit from last one's! Who actualy don't needed those! Why they can't share to money other way than some internet solution! Poor people don't have access in internet! Really poor don't have card's or bank account!

[Poet]

16 minutes ago, 2 is 1 said:

Poor people don't have access in internet!

Are you sure about that?

At this stage, smartphones are cheaper than ever, widely available secondhand, and cellular Internet is extremely cheap. As far as I can tell, it no longer possible to get the old dumb phones or, at least, they would be no cheaper than the cheapest smartphones.

I notice that many Thais get much of their entertainment, including their TV shows and music, via their phones now. They have become ubiquitous.
 

 

21 minutes ago, 2 is 1 said:

Really poor don't have card's or bank account!

Again, while this is true in some countries, I don't think it is true in Thailand. The banks don't place any great barriers to citizens who want accounts and most families, who were already sending each other small amounts of money via the ATM system, are increasingly using their phones to do the same thing.

[Happyman567]

20 hours ago, colinneil said:

BIGGEST load of codswallop i have read for a while, all that BS which at the end of the day means almost nothing.

People are out of work, no money, no hope, and all this so-called government can do, is prattle on about helping small businesses, only business they care about is BIG business.

Col my man I will tell you a funny Seeing is believing. The wife owns a small shop for eating. Business is not to bad at the moment so she decided to put on 1 extra staff. So her daughter puts it on face book and bingo Out of the woodwork comes heaps of Thais enquiring about the job. Notice i said enquire not apply. But one brave Thai did apply and she got a job. Oh you say that great No it was not She was supposed to start next day but never showed Hahahhaha I just cant get my head a around that one can you? Why would apply for a job get it and not show after you accepted it?

So i beg to differ from you. I say Thais hate work and dont want to work. Oh you might say The wages are not good My wife pays very well and even feeds them lol

[herfiehandbag]

Quite a good stimulus to the spending power of the poor might be to pay the various pensions and disabled living allowances which reportedly have been stalled!

[FarFlungFalang]

22 hours ago, colinneil said:

BIGGEST load of codswallop i have read for a while, all that BS which at the end of the day means almost nothing.

People are out of work, no money, no hope, and all this so-called government can do, is prattle on about helping small businesses, only business they care about is BIG business.

Your spot on Colin After giving big business it's helping hand all that is left is consideration which doesn't help those who truly need it.

[FarFlungFalang]

22 hours ago, Poet said:

Are you sure about that?

At this stage, smartphones are cheaper than ever, widely available secondhand, and cellular Internet is extremely cheap. As far as I can tell, it no longer possible to get the old dumb phones or, at least, they would be no cheaper than the cheapest smartphones.

I notice that many Thais get much of their entertainment, including their TV shows and music, via their phones now. They have become ubiquitous.
 

 

Again, while this is true in some countries, I don't think it is true in Thailand. The banks don't place any great barriers to citizens who want accounts and most families, who were already sending each other small amounts of money via the ATM system, are increasingly using their phones to do the same thing.

As happens with my 79 year old MIL no phone and no access to to her pension which is taken care of by the wife's brother and there's a lot of people like that around here.The MIL has never depended on the Administration for survival and probably never will.I have a dumb phone which I much prefer than the so called smart phone,I know why they are called smart phones,it's to delude people who use them in to thinking they are smarter when in fact they are becoming dumber.Don't forget to do what your smart phone tells you because it's smarter than you are. 

[herfiehandbag]

22 hours ago, Poet said:

Are you sure about that?

At this stage, smartphones are cheaper than ever, widely available secondhand, and cellular Internet is extremely cheap. As far as I can tell, it no longer possible to get the old dumb phones or, at least, they would be no cheaper than the cheapest smartphones.

I notice that many Thais get much of their entertainment, including their TV shows and music, via their phones now. They have become ubiquitous.
 

 

Again, while this is true in some countries, I don't think it is true in Thailand. The banks don't place any great barriers to citizens who want accounts and most families, who were already sending each other small amounts of money via the ATM system, are increasingly using their phones to do the same thing.

I think it is the case, with the poor.

Let's consider, you earn B300 a day as a casual day labourer, if you are lucky 5 days a week, B1500 a week. From that you have to feed and clothe your family. Even a shagged second hand smartphone, which has to be kept on charge is unaffordable. Internet on that phone, B100 a week, can you afford that?

 

The money that was distributed through the ATM system has largely dried up, the senders are out of work. 

 

Increasing numbers are quite simply being left behind by the economy. People won't starve in the rural areas, they forage, and an effective local community based welfare system will help feed them, but many are now finding themselves with, effectively, no regular income.

[Poet]

22 minutes ago, FarFlungFalang said:

I have a dumb phone which I much prefer than the so called smart phone

Sure, but I was responding to the contention, by another member here, that "Poor people don't have access in internet". I was saying that, given the current rock-bottom prices of phones and cellular access to the Internet, cost is no longer a barrier.

Your decision to not to use a phone with Internet access is a lifestyle choice, similar to someone not watching television. In that case, the signal being sent is not that they cannot afford a television but that they are sophisticated and educated enough not to want to watch TV. In your case, your participation on this forum suggests that, despite not having an Internet-enabled phone, you have some other way to access the Internet.
 

 

22 minutes ago, FarFlungFalang said:

As happens with my 79 year old MIL no phone and no access to to her pension which is taken care of by the wife's brother and there's a lot of people like that around here.

Sure, but, again, the barrier there is not money. Plenty of people don't bother to learn how to do stuff if others are willing to do it for them.

People of all ages, levels of education, and intelligence, get the hang of apps fairly quickly if they have a compelling reason to do so. Over even just the past five years, the number of potential reasons have multiplied, especially now under the shadow of Covid-19.
 

 

22 minutes ago, FarFlungFalang said:

Don't forget to do what your smart phone tells you because it's smarter than you are.

My smartphone is also better looking than me.

 

Edited September 15, 2020 by Poet

[ChipButty]

3 hours ago, Happyman567 said:

Col my man I will tell you a funny Seeing is believing. The wife owns a small shop for eating. Business is not to bad at the moment so she decided to put on 1 extra staff. So her daughter puts it on face book and bingo Out of the woodwork comes heaps of Thais enquiring about the job. Notice i said enquire not apply. But one brave Thai did apply and she got a job. Oh you say that great No it was not She was supposed to start next day but never showed Hahahhaha I just cant get my head a around that one can you? Why would apply for a job get it and not show after you accepted it?

So i beg to differ from you. I say Thais hate work and dont want to work. Oh you might say The wages are not good My wife pays very well and even feeds them lol

My friend has a really good restaurant with a bar always busy he pays a good salary plus tips I've seen many a girl start for one day and not turn up again,

[Poet]

13 minutes ago, herfiehandbag said:

I think it is the case, with the poor.

Let's consider, you earn B300 a day as a casual day labourer, if you are lucky 5 days a week, B1500 a week. From that you have to feed and clothe your family. Even a shagged second hand smartphone, which has to be kept on charge is unaffordable. Internet on that phone, B100 a week, can you afford that?

The most alarming thing about being poor is how expensive it is.

Firstly, bear in mind that the poor in Thailand are actually relatively comfortable compared to the poor in many other countries. While individual Thai families may appear to have very little, they generally benefit from a matrix of patronage, family support, paid tasks, low-level business, and charity. In that situation, the phone becomes an essential lifeline, allowing them to be contacted when piece work or some other paid task becomes available. Also, even poor Thais buy and sell things via WhatsApp groups, Line, and Facebook. Phones have become a vital tool, the main social outlet, and a provider of free entertainment. B14 per day is the cost of that.

In poor Thai families the "less poor" nodes within the extended family often assist the poorer nodes by handing down old phones to them. 13 years on from the iPhone, the number of old phones sitting in drawers is high, while price of new phones is exceedingly low. Old phones still take the same SIM cards that are used today. Often, the person giving the phone has there own reason to want the recipient to be contactable and may even take responsibility for the B100 per week.

Rich families also give their old phones away. My lady gives hers to members of the household staff who, of course, already have phones but will either sell them or give them to members of their family. Nothing is wasted in Thailand, apart from the country as a whole.
 

 

40 minutes ago, herfiehandbag said:

The money that was distributed through the ATM system has largely dried up, the senders are out of work. 

Sure, but their phones are already deeply entrenched in their lives.
 

 

41 minutes ago, herfiehandbag said:

Increasing numbers are quite simply being left behind by the economy. People won't starve in the rural areas, they forage, and an effective local community based welfare system will help feed them, but many are now finding themselves with, effectively, no regular income.

The phone is now part of how they forage. If we are talking about genuinely no income, no help from anywhere, sure, I can imagine someone not being able to keep paying the B100 per week, but that will only close more doors to them. I would bet that, at the first possible opportunity, they will top up again.


 

[Poet]

13 minutes ago, ChipButty said:

My friend has a really good restaurant with a bar always busy he pays a good salary plus tips I've seen many a girl start for one day and not turn up again,

This happens so often it is not even funny.

My lady has hired countless young Thais who all appeared bright and eager. The job she provides is like a dream come true: nice environment, good pay, interesting work, opportunity to learn. They spend the first day repeatedly expressing how happy they are, just over the moon, and how they have been searching for so long for a job.

Second day, they either don't show, or turn up with a sob story about how they need an advance of their first month's pay or they will lose their room or some other disaster.

Unlike me, my lady is a decent human being and these situations used to tear her apart. She learnt the hard way that, once you give someone an advance you definitely never see them again. Now she is a lot tougher, actually says during the interviews that she will never provide an advance and advises them to not waste any further time if they are in that sort of situation.

I have no idea why young Thais are so funny about work. In our experience, in Chiang Mai, Tai Yai (mountain folk) are generally more dependable and honest.

 

Edited September 15, 2020 by Poet

[FarFlungFalang]

3 hours ago, Poet said:

Sure, but I was responding to the contention, by another member here, that "Poor people don't have access in internet". I was saying that, given the current rock-bottom prices of phones and cellular access to the Internet, cost is no longer a barrier.

Your decision to not to use a phone with Internet access is a lifestyle choice, similar to someone not watching television. In that case, the signal being sent is not that they cannot afford a television but that they are sophisticated and educated enough not to want to watch TV. In your case, your participation on this forum suggests that, despite not having an Internet-enabled phone, you have some other way to access the Internet.
 

 

Sure, but, again, the barrier there is not money. Plenty of people don't bother to learn how to do stuff if others are willing to do it for them.

People of all ages, levels of education, and intelligence, get the hang of apps fairly quickly if they have a compelling reason to do so. Over even just the past five years, the number of potential reasons have multiplied, especially now under the shadow of Covid-19.
 

 

 

My smartphone is also better looking than me.

 

Fair points and with them all I agree even about the smartphone which might be rather poignant.The most poignant is probably the fact that my dumb phone is still smarter and better looking than I am.