Popular Post webfact Posted March 28 Popular Post Share Posted March 28 The Thai government is currently exploring funding avenues for its digital wallet giveaway initiative, with final decisions on the funding source set to be determined next month. Lawaron Saengsanit, the permanent secretary for the Finance Ministry, revealed that the ministry and the Budget Bureau have been assigned by the digital wallet policy committee to assess possible funding sources for the scheme. The committee’s meeting presided over by Prime Minister Srettha Thavisin, took place on Wednesday. Three probable funding sources have been proposed: a borrowing bill, the national budget, or a combination of loans and the budget. As the government is in the process of preparing the national budget for fiscal year 2025, adjustments could be made to this budget to finance the initiative. The Finance Ministry may also consult with the Budget Bureau about using the 2024 budget to fund the scheme. Lawaron said, “The details should be made clearer on April 10. The prime minister also wants the project’s details to go before the cabinet by the end of next month.” Prime Minister Srettha Thavisin, who also holds the finance minister position, highlighted the dire state of the economy and the need for stimulation. The digital wallet scheme is seen as a short-term measure to inject cash into the economy, to improve people’s livelihoods. The prime minister emphasised the urgency of its implementation. Deputy Finance Minister Julapun Amornvivat previously mentioned that the government plans to launch its flagship digital wallet giveaway scheme in the final quarter of this year. The timeline for the scheme is expected to be clearer following the digital wallet policy committee’s meeting on April 10. The proposed 500-billion-baht (US$ 14 billion) scheme is tentatively slated to be rolled out in May. However, widespread anticipation of a delay exists due to legal questions surrounding the scheme. The National Anti-Corruption Commission (NACC) has also cautioned the government about potential pitfalls associated with the scheme, ranging from graft to legal risks, reported Bangkok Post. The digital cash giveaway scheme is the flagship policy of the Pheu Thai-led government and is designed to stimulate the economy. Eligibility for the 10,000-baht (US$ 280) handout under the scheme is for Thais aged 16 and older who earn less than 70,000 baht (US$ 2,000) a month and have less than 500,000 baht (US$ 14,000) in their bank accounts. An estimated 50 million people are expected to be eligible for the handout. by Mitch Connor Picture courtesy of Bangkok Post Source: The Thaiger 2024-03-28 - Discover how Cigna Insurance can protect you with a range of visa-compliant plans that meet the minimum requirement of medical treatment. For more information on expat health insurance click here. Get our Daily Newsletter - Click HERE to subscribe 1 6 Link to comment Share on other sites More sharing options...
flyingtlger Posted March 28 Share Posted March 28 38 minutes ago, webfact said: Three probable funding sources have been proposed: a borrowing bill, the national budget, or a combination of loans and the budget. The next generation will pay for it dearly....... 2 Link to comment Share on other sites More sharing options...
Popular Post Rampant Rabbit Posted March 28 Popular Post Share Posted March 28 Thai govt prays for digital wallet voter bribe payment funding source 1 1 1 Link to comment Share on other sites More sharing options...
Trippy Posted March 28 Share Posted March 28 Don't do it! It will raise inflation for all. Link to comment Share on other sites More sharing options...
BangkokHank Posted March 28 Share Posted March 28 This is just a way to trick people into accepting enslavement via a Central Bank Digital Currency. 1 1 Link to comment Share on other sites More sharing options...
Tropicalevo Posted March 28 Share Posted March 28 1 hour ago, BangkokHank said: This is just a way to trick people into accepting enslavement via a Central Bank Digital Currency. No word on how old folk with no phone or internet are going to get paid. It is only for rich folk I suppose. Anyway, back to the funding. I am sure that the PM could fund it from his overseas accounts. If not, ask Prayut. 1 Link to comment Share on other sites More sharing options...
hotchilli Posted March 28 Share Posted March 28 6 hours ago, webfact said: The Thai government is currently exploring funding avenues for its digital wallet giveaway initiative, with final decisions on the funding source set to be determined next month. Almost a year and still trying to find funding 1 Link to comment Share on other sites More sharing options...
PETERTHEEATER Posted March 28 Share Posted March 28 7 hours ago, webfact said: The Thai government is currently exploring funding avenues for its digital wallet giveaway initiative, with final decisions on the funding source set to be determined next month. So what will the PM be announcing on 10 April? That he has no idea where the money is coming from? Link to comment Share on other sites More sharing options...
Guderian Posted March 28 Share Posted March 28 Thaksin's influence spreads ever further. This reminds me of his 30-Baht medical treatment revolution 20-odd years ago. Announce a scheme that will be very popular indeed with the poorer voters, but fail to put aside any money to pay for it, or explain where the money will come from. The digital wallet looks to be of the same pedigree. If only Western policymakers could get away with this sleight of hand without the markets going crazy, poor Liz Truss, lol. 1 1 Link to comment Share on other sites More sharing options...
Thingamabob Posted March 28 Share Posted March 28 What a farce ! A bribe for votes aimed at the huddled masses without any consideration as to how and when it will be implemented. 1 Link to comment Share on other sites More sharing options...
beautifulthailand99 Posted March 28 Share Posted March 28 8 hours ago, flyingtlger said: The next generation will pay for it dearly....... The 'farang' income tax might mean the shake-down is coming much earlier. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now