Digital Wallet plan could break up the government before it launches says top Thai political pundit

[webfact]

This week, Deputy Minister of Finance Julapun Amornvivat (centre) indicated that there will be changes to the Digital Wallet ฿10k giveaway after a critical meeting on October 19th. Political pundit, former United Front for Democracy against Dictatorship (UDD) leader and MP, Mr Jatuporn Prompan, has warned that tensions over the scheme are likely to arise in the cabinet (inset right) before the giveaway goes live on February 1st 2024.

The unwieldy and blunt Digital Wallet online credit giveaway, using blockchain technology, will be conducted through the Krungthai Bank smartphone banking application, and it must be spent within six months

A savvy political street protest organiser and TV political pundit is predicting the controversial ฿10k Digital Wallet giveaway could lead to fissures and tensions within the new cabinet, just sworn in on September 5th. He predicts this before it is finalised and gets the green light for its debut on February 1st 2024. There are increasing concerns about the country’s deteriorating economy, while analysts and the Governor of the Bank of Thailand, Sethaput Suthiwartnarueput, are openly questioning the costly stimulus measure. Already, the government has agreed to exclude wealthy Thais from the provision and is contemplating further changes at a critical meeting on October 19th. 

 

Amid tensions between Thai Prime Minister Srettha Thavisin and the Bank of Thailand Governor, Mr Sethaput, over the Thai government’s economic policy of financial stimulus, the government’s controversial Digital Wallet giveaway stands to the fore.

 

by James Morris and Son Nguyen

 

Full story: Thai Examiner.com 2023-10-13

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Get our Daily Newsletter - Click HERE to subscribe

[daveAustin]

Good. This new government is an abomination and needs a serious reality check! Populist policies like these have the worst of Thaksin written over them. 

[hotchilli]

2 hours ago, daveAustin said:

Good. This new government is an abomination and needs a serious reality check! Populist policies like these have the worst of Thaksin written over them. 

A bit like the rice scam all over again.

[Jenkins9039]

Paid for by your humble expats :D 

[redwood1]

When do retired expat farangs get their 10,000...

[2baht]

8 minutes ago, redwood1 said:

When do retired expat farangs get their 10,000...

16 years after their rebirth as a Thai! ????

[bamnutsak]

Most holders of the levers of power here (legislative, business, financial, judicial, academic, ultra-royalists) seem to be against this scheme.

 

Maybe Krungthai Bank is on board as they will manage the disbursements.

 

Might it survive in some limited fashion as a welfare scheme? Maybe.

 

But the original proposal was flawed and no one really believed in it, so it's toast.

 

 

[DPKANKAN]

How would half the country access it in villages a lot with no electricity, wifi, phones or even bank accounts ffs!!!

[pedro01]

10 minutes ago, DPKANKAN said:

How would half the country access it in villages a lot with no electricity, wifi, phones or even bank accounts ffs!!!

Are you suggesting there are villages here with no electricity or banks available?

[shackleton]

4 hours ago, redwood1 said:

When do retired expat farangs get their 10,000...

When they get Thai Citizenship ????

[shackleton]

I have already  expressed my thoughts on the Digital payout and do expect changes to come as in who will get it and how much ????

At worse it could be pie in the Sky ???? 

[DPKANKAN]

4 hours ago, pedro01 said:

Are you suggesting there are villages here with no electricity or banks available?

Yes. I know family member living in the jungle by a dam lake, in a wooden hut with no electricity or running water. Many poor in this country which nobody sees.

[John Drake]

5 hours ago, redwood1 said:

When do retired expat farangs get their 10,000...

"Get"???  No, they'll be forking over 10,000 instead.

[Dogmatix]

6 hours ago, DPKANKAN said:

How would half the country access it in villages a lot with no electricity, wifi, phones or even bank accounts ffs!!!

15 year's ago there was still no reliable mobile signal in the mother-in-law's Isaan village but all networks are there now. At the same time there were also some villages without electricity in Isaan but I think now there are only a few in mountainous areas. 

 

But villagers without a smart phone will be a problem.  I expect that people like loan sharks will buy digital wallets forward at a discount, i.e. I will give you 5k for it today.

[Dogmatix]

I am already missing the Prayut government.  They were ineffective but at least very conservative and cautious in changing things.  Right now a military coup wouldn't be such a bad thing to get rid of all these Thaksin appointed goons and put him in prison where he belongs. There is still a lese majeste case pending against him which the army said it would bring but they have dropped it for now.

[kimamey]

12 hours ago, redwood1 said:

When do retired expat farangs get their 10,000...

Don't you mean?

When do retired expat farangs get their 10,000...tax demand?

[RanongCat]

Social experimentation with serious glitches with the theory even before the theory is attempted as a reality !