Digital Wallet Stipend Program Remains a Hot Topic

[snoop1130]

 

BANGKOK (NNT) - The digital wallet stipend program continues to receive both support and criticism, following the release of more details from the government last week.

 

Prime Minister Srettha Thavisin commented on the digital wallet program during his visit to the APEC meeting in San Francisco, USA. He emphasized the need for clear information and urged the Thai society not to form premature opinions, but to discuss the program’s merits and drawbacks.

 

The Move Forward Party has expressed skepticism about the program’s actual implementation and its passage through the parliament. However, the Prime Minister is confident of the coalition government’s stable support, backed by 320 MPs, and believes in their teamwork.

 

The Prime Minister also assured that Thai citizens will have the opportunity to benefit from this program. He stressed the government’s duty to listen to the people’s voices. The delay in the project’s launch is attributed to the need for comprehensive feedback on various aspects, including legislation, criteria for defining wealth, and income limits.

 

He reaffirmed the government’s correctness in handling the situation and expects the Council of State to provide positive feedback.

 

Regarding the question of whether Thailand is currently in a crisis and the necessity of this project, the Prime Minister replied that over the past nine years, the Thai GDP growth has been only 1.9% per year, while other countries have grown twice as fast. Without economic growth, Thailand may become an unattractive destination for investors. Therefore, the government believes there is a crisis that requires economic stimulation.

 

Some supporters of the Pheu Thai Party are disappointed for not qualifying for the stipend due to having more savings than the threshold of the program’s requirement. The Prime Minister expressed understanding and sympathy, emphasizing the need to listen to all sectors, including the Office of the National Economic and Social Development Council and the Bank of Thailand.

 

Nonetheless, he said that for those earning over 70,000 baht and with savings over 500,000 baht, the government has introduced the ’E-Refund’ scheme, which allows for a refund of about 10,000 baht on expenditures, equivalent to the digital wallet program amount.

 

As for public queries about whether the 500,000 baht savings include government savings bonds, mutual funds, or other investments, the Prime Minister clarified that only bank deposits are taken into consideration. The database check for eligibility is based on the data of September 2023.

 

Furthermore, the Prime Minister is confident that there are sufficient funds for the program, as the government is efficient in both raising and spending money. Regarding the source of funding through the enactment of a loan bill, the Governor of the Bank of Thailand has suggested borrowing as a better option. Raising the GDP level would subsequently reduce the public debt-to-GDP ratio.

 

By Namo Vananupong

 

Full story: NNT 2023-11-13

 

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[OneMoreFarang]

Was there ever a study about this project?

Who should get the money? How and where are they supposed to spend the money? How will that effect the local and national business?

How will the money be distributed and which measures are in place to do this transparent and avoid corruption?

Are there alternative to reach the same goal?

Was something similar tried before in Thailand or another country?

 

Personally, I think they made this promise so that people vote for them without any detailed plan or study.

And now they want to somehow do it. And I am sure they also have plans how to direct a substantial part of the money in their own pockets.

TiT

[MrPancake]