Cash handouts, co-payment scheme to boost Thai GDP by 1%: Minister

By The Nation

 

Finance Minister Arkhom Termpittayapaisith

 

The government's “RaoChana” (WeWin) cash handout scheme and the first two phases of the “Khon La Khrueng” (Let's Go Halves) co-payment scheme are expected to boost Thai GDP by 1 per cent, said Finance Minister Arkhom Termpittayapaisith.

 

The Cabinet on Tuesday approved the new WeWin scheme and another round of Let's Go Halves, aiming to ease financial burdens on people hit by the new Covid-19 outbreak.

 

The minister said the WeWin scheme alone could boost GDP by 0.5 per cent.

 

The WeWin scheme will hand two monthly payments of Bt3,500 to the self-employed, farmers and welfare card holders.

 

People can register for the cash payments online from January 29 onward. About 31 million people will be eligible for the scheme, which will cost an estimated Bt217 billion.

 

The first and second phases of Let's Go Halves began last October and December, respectively. The new round, which is for those who failed to register in the second phase, will run until March 31 and cover 50 per cent of bills for food, drinks and necessities up to Bt150 per day. The total subsidy per person is capped at Bt3,500.

 

Source: https://www.nationthailand.com/business/30401481

 

 

-- © Copyright The Nation Thailand 2021-01-20

 

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Sorry, but I cannot see that handing out payments to the poor and unemployed (known as benefits to most of us) and paying half of some bills to the same amount will grow GDP in any way compared to the loss of their taxable income and buying power before the pandemic. 

The Thai government has stumbled upon a magical way to increase GDP with, as far as we can see so far, absolutely no downsides.

I hope Biden is paying attention.

 

Cabinet approves Bt217bn cash handout scheme

By The Nation

 

 

The Cabinet on Tuesday approved the “RaoChana” (We Win) cash handouts scheme to mitigate the impact of the new Covid-19 outbreak.

 

The scheme will hand two monthly payments of Bt3,500 to the self-employed, farmers and welfare card holders whose savings do not exceed Bt500,000.

 

People can register for the cash payments online from January 29 onward.

 

About 31 million people will be eligible for the scheme, which will cost an estimated Bt217 billion.

 

Source: https://www.nationthailand.com/business/30401460

 

 

-- © Copyright The Nation Thailand 2021-01-20

 

- Whatever you're going through, the Samaritans are here for you

- Follow Thaivisa on LINE for breaking COVID-19 updates

Seems silly that the money that is already in the Government coffers from either taxes, or prior tourism schemes (such as the ASQ), and which had already been counted in prior GDP figures, would be seen as increasing GDP once again when it is handed out...Magic money and the magical numbers games....so is it considered funny money now.

 

RaoChana looks OK. At least there's a means test. Hopefully not all the cash moves from the government to the loan sharks.

 

I'm on the record as being very much against the Khon La Khrueng scheme.

 

 

This latest assistance scheme is a joke. I have already spoken to many who were not able to quality. You had to get online at 6am this morning, and either you could not get onto the site, or the site said the application were already full. And today was the first day. And 6am was the opening time. And it was already full. I know of only one person who qualified.

 

The thing is, 3,500 baht is a paltry amount to begin with. So, if you are going to offer assistance, make it easy. Do not put up high hurdles, as this reveals your intention to deny assistance. This administration could care less about the general population. They are in power to protect the elite, the wealthy, those who are connected and those in power. Period. To think otherwise, is emblematic of a great degree of misunderstanding, about who these hapless leaders are.