Popular Post webfact Posted June 18 Popular Post Share Posted June 18 In a move to ensure the digital wallet scheme benefits the local economy, Deputy Finance Minister Julapun Amornvivat has urged the Commerce Ministry to reassess its decision to permit recipients of the 10,000-baht payout from the scheme to use the funds on mobile phones. This decision comes amid concerns that allowing such a purchase would not effectively stimulate domestic spending as most mobile phones are either imported or contain foreign components. Prime Minister Srettha Thavisin echoed these concerns, emphasising that spending the payout on imported mobile phones could thwart the scheme’s primary goal of bolstering the local economy. Julapun, who chairs the committee overseeing the digital wallet initiative, disclosed that these issues were discussed in detail during a recent meeting involving the Finance and Commerce ministries and other state agencies. The meeting aimed to finalise the list of goods that can be purchased using the digital cash. The digital wallet scheme is a cornerstone policy of the Pheu Thai Party-led government, designed to revive the ailing economy. The scheme promises 10,000 baht in digital money to any citizen aged 16 or older, provided their annual income does not exceed 840,000 baht. The project is expected to cost the state around 500 billion baht. To ensure adequate funding for this initiative, the Cabinet has approved a Budget Bureau proposal to raise the budget deficit for the 2024 fiscal year by 112 billion baht. With this increase, the total budget for the next fiscal year will be 3.48 trillion baht, representing a 13.1% rise from the previous year. Despite the significant financial outlay, proponents argue that the scheme aligns with the government’s medium-term financial plan. The Finance Ministry is keen to reevaluate which products can be purchased using the digital funds. At present, the inclusion of mobile phones remains a contentious issue, with further deliberations expected. The final decision will critically impact how the funds are utilised and whether they achieve the intended economic stimulus. File photo -- 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe 1 1 1 6 Link to comment Share on other sites More sharing options...
Pouatchee Posted June 18 Share Posted June 18 well, at least uncle xi might be happy if phones are allowed... Link to comment Share on other sites More sharing options...
Popular Post brianthainess Posted June 18 Popular Post Share Posted June 18 This Gov't has More U-Turns than Highway 3, and that is a very long road from BKK to Cambodian boarder. 1 1 1 Link to comment Share on other sites More sharing options...
brianthainess Posted June 18 Share Posted June 18 8 minutes ago, Pouatchee said: well, at least uncle xi might be happy if phones are allowed... Well yes but it seems the Govt. are now backtracking on what they said before, how unusual. 1 Link to comment Share on other sites More sharing options...
brianthainess Posted June 18 Share Posted June 18 Delay, Delay, Delay, spending the money that is not even there to spend. 1 Link to comment Share on other sites More sharing options...
Popular Post Gottfrid Posted June 18 Popular Post Share Posted June 18 Why would they set any limits on what the money can be used for? They will give the money to people in need, then they will just have to believe they are used for creating a better life for a month or two. Because that´s what it is. A portion of money that will last for 1 or 2 month. Then back to the normal life without money for most people. Totally useless scheme! 5 1 1 Link to comment Share on other sites More sharing options...
Jenkins9039 Posted June 18 Share Posted June 18 1 hour ago, webfact said: In a move to ensure the digital wallet scheme benefits the local economy, Deputy Finance Minister Julapun Amornvivat has urged the Commerce Ministry to reassess its decision to permit recipients of the 10,000-baht payout from the scheme to use the funds on mobile phones. This decision comes amid concerns that allowing such a purchase would not effectively stimulate domestic spending as most mobile phones are either imported or contain foreign components. Prime Minister Srettha Thavisin echoed these concerns, emphasising that spending the payout on imported mobile phones could thwart the scheme’s primary goal of bolstering the local economy. Julapun, who chairs the committee overseeing the digital wallet initiative, disclosed that these issues were discussed in detail during a recent meeting involving the Finance and Commerce ministries and other state agencies. The meeting aimed to finalise the list of goods that can be purchased using the digital cash. The digital wallet scheme is a cornerstone policy of the Pheu Thai Party-led government, designed to revive the ailing economy. The scheme promises 10,000 baht in digital money to any citizen aged 16 or older, provided their annual income does not exceed 840,000 baht. The project is expected to cost the state around 500 billion baht. To ensure adequate funding for this initiative, the Cabinet has approved a Budget Bureau proposal to raise the budget deficit for the 2024 fiscal year by 112 billion baht. With this increase, the total budget for the next fiscal year will be 3.48 trillion baht, representing a 13.1% rise from the previous year. Despite the significant financial outlay, proponents argue that the scheme aligns with the government’s medium-term financial plan. The Finance Ministry is keen to reevaluate which products can be purchased using the digital funds. At present, the inclusion of mobile phones remains a contentious issue, with further deliberations expected. The final decision will critically impact how the funds are utilised and whether they achieve the intended economic stimulus. File photo -- 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe Quite obvious isn't it, just force it for domestic wet-markets. -> Local Wet Markets. -> Drives up digital transactions in usually opaque markets. -> Entices stickiness. -> Aids in roll out of Thai CBDC to cull the grey economy and appropriately tax the ~96% of the population that don't pay tax. -> Squeezes the avenues for 'Expats -> Tax evasion', by removing a chunk of cash transactions out of the market. Link to comment Share on other sites More sharing options...
Popular Post mancub Posted June 18 Popular Post Share Posted June 18 9 minutes ago, Gottfrid said: Why would they set any limits on what the money can be used for? They will give the money to people in need, then they will just have to believe they are used for creating a better life for a month or two. Because that´s what it is. A portion of money that will last for 1 or 2 month. Then back to the normal life without money for most people. Totally useless scheme! Yep. that's about right....but it was only ever about vote buying anyway. 1 1 1 4 Link to comment Share on other sites More sharing options...
bob smith Posted June 18 Share Posted June 18 ....are they seriously still peddling this ridiculous idea??? bob. 1 Link to comment Share on other sites More sharing options...
watchcat Posted June 18 Share Posted June 18 1 hour ago, webfact said: The digital wallet scheme is a cornerstone policy of the Pheu Thai Party-led government, designed to revive the ailing economy. No. it was wote buiying, what the shins like to do. 2 Link to comment Share on other sites More sharing options...
expat_4_life Posted June 18 Share Posted June 18 (edited) 12 minutes ago, bob smith said: ....are they seriously still peddling this ridiculous idea??? bob. Well, yes, of course Bob. And implement it they will. There is more than one way to "buy" a vote - TiT Edited June 18 by expat_4_life Link to comment Share on other sites More sharing options...
bob smith Posted June 18 Share Posted June 18 (edited) 3 minutes ago, expat_4_life said: Well, yes, of course Bob. And implement it they will. There is more than one way to "buy" a vote - TiT Well all I can say is good luck! The economy will tank and they will of course blame foreigners, somehow someway.. Thai people really are that gullible innit. bob. Edited June 18 by bob smith Link to comment Share on other sites More sharing options...
NotEinstein Posted June 18 Share Posted June 18 The shallow thinking on display by this clown-government is breath-taking - obviously if they restrict the wallet money, it will get spent on necessities and the money usually spent on them with buy a new phone, after all, many will need a new phone to get access to the wallet...... 1 Link to comment Share on other sites More sharing options...
Gottfrid Posted June 18 Share Posted June 18 31 minutes ago, mancub said: Yep. that's about right....but it was only ever about vote buying anyway. True! Unfortunately, it does not seem to stop there, but they will also go ahead with it. 😂 Link to comment Share on other sites More sharing options...
LivingNThailand Posted June 18 Share Posted June 18 2 hours ago, webfact said: Amornvivat has urged the Commerce Ministry to reassess its decision to permit recipients of the 10,000-baht payout from the scheme to use the funds on mobile phones. This is very confusing . Do they mean you can't pay for something with the digital wallet using your mobile phone.? That is how I read it. Or you can't BUY a mobile phone with the digital wallet? 1 1 Link to comment Share on other sites More sharing options...
kimamey Posted June 18 Share Posted June 18 42 minutes ago, bob smith said: ....are they seriously still peddling this ridiculous idea??? bob. Of course they are, because things didn't go to plan. It was a plan to encourage people to vote PT and ensure a big majority. After that it didn't really matter if it was implemented. MFP messed it up by getting more votes so now they have to show they are serious or they may have problems in the next election, if they can't get MFP banned or reforming. 1 Link to comment Share on other sites More sharing options...
kimamey Posted June 18 Share Posted June 18 8 minutes ago, LivingNThailand said: This is very confusing . Do they mean you can't pay for something with the digital wallet using your mobile phone.? That is how I read it. Or you can't BUY a mobile phone with the digital wallet? I assumed it means you can't buy a mobile phone since the second paragraph mentions that many are imported or contain many imported parts. 2 Link to comment Share on other sites More sharing options...
LivingNThailand Posted June 18 Share Posted June 18 1 minute ago, kimamey said: I assumed it means you can't buy a mobile phone since the second paragraph mentions that many are imported or contain many imported parts. I read that. Poor writing, I guess. It still would benefit the local vendor selling the phones, though. Link to comment Share on other sites More sharing options...
connda Posted June 18 Share Posted June 18 2 hours ago, webfact said: In a move to ensure the digital wallet scheme benefits the local economy, Deputy Finance Minister Julapun Amornvivat has urged the Commerce Ministry to reassess its decision to permit recipients of the 10,000-baht payout from the scheme to use the funds on mobile phones. This decision comes amid concerns that allowing such a purchase would not effectively stimulate domestic spending as most mobile phones are either imported or contain foreign components. Prime Minister Srettha Thavisin echoed these concerns, emphasising that spending the payout on imported mobile phones could thwart the scheme’s primary goal of bolstering the local economy. Look - they are trying to weasel their way out of the campaign promise. I hope they succeed. It's highly inflationary and the plebs need to wake up to the political scams. "The mobile phone may have foreign components." Oh that's rich. Have you ever taken a look at a circuit board and viewed where the chips on the board are manufactured? There isn't a consumer electronics device in the world that doesn't have "foreign components." That is one of the most moronic statements I've seen for a long time. That's good for a laugh! 1 1 Link to comment Share on other sites More sharing options...
connda Posted June 18 Share Posted June 18 3 hours ago, webfact said: The digital wallet scheme is a cornerstone policy of the Pheu Thai Party-led government, designed to revive the ailing economy. If they implement this madness the pursuant inflation will destroy the economy. Which may be the goal. Link to comment Share on other sites More sharing options...
khunpeer Posted June 18 Share Posted June 18 3 hours ago, webfact said: In a move to ensure the digital wallet scheme benefits the local economy, Deputy Finance Minister Julapun Amornvivat has urged the Commerce Ministry to reassess its decision to permit recipients of the 10,000-baht payout from the scheme to use the funds on mobile phones. This decision comes amid concerns that allowing such a purchase would not effectively stimulate domestic spending as most mobile phones are either imported or contain foreign components. Prime Minister Srettha Thavisin echoed these concerns, emphasising that spending the payout on imported mobile phones could thwart the scheme’s primary goal of bolstering the local economy. Julapun, who chairs the committee overseeing the digital wallet initiative, disclosed that these issues were discussed in detail during a recent meeting involving the Finance and Commerce ministries and other state agencies. The meeting aimed to finalise the list of goods that can be purchased using the digital cash. The digital wallet scheme is a cornerstone policy of the Pheu Thai Party-led government, designed to revive the ailing economy. The scheme promises 10,000 baht in digital money to any citizen aged 16 or older, provided their annual income does not exceed 840,000 baht. The project is expected to cost the state around 500 billion baht. To ensure adequate funding for this initiative, the Cabinet has approved a Budget Bureau proposal to raise the budget deficit for the 2024 fiscal year by 112 billion baht. With this increase, the total budget for the next fiscal year will be 3.48 trillion baht, representing a 13.1% rise from the previous year. Despite the significant financial outlay, proponents argue that the scheme aligns with the government’s medium-term financial plan. The Finance Ministry is keen to reevaluate which products can be purchased using the digital funds. At present, the inclusion of mobile phones remains a contentious issue, with further deliberations expected. The final decision will critically impact how the funds are utilised and whether they achieve the intended economic stimulus. File photo -- 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe Hub of U-turns! 😁 Link to comment Share on other sites More sharing options...
Popular Post hotchilli Posted June 18 Popular Post Share Posted June 18 2 hours ago, Gottfrid said: Why would they set any limits on what the money can be used for? They will give the money to people in need, then they will just have to believe they are used for creating a better life for a month or two. Because that´s what it is. A portion of money that will last for 1 or 2 month. Then back to the normal life without money for most people. Totally useless scheme! It won't be long before they say you can only make purchases from your local CP outlet 2 2 Link to comment Share on other sites More sharing options...
Purdey Posted June 18 Share Posted June 18 Just cancel the money giveaway. There must be another use for government funds during a period of high household debt. Link to comment Share on other sites More sharing options...
PETERTHEEATER Posted June 18 Share Posted June 18 4 hours ago, webfact said: The digital wallet scheme is a cornerstone policy of the Pheu Thai Party..... I think they will find it to be a millstone.... 1 1 Link to comment Share on other sites More sharing options...
natway09 Posted June 18 Share Posted June 18 Beer & (or) Lao Khao, that's the go 1 Link to comment Share on other sites More sharing options...
connda Posted June 18 Share Posted June 18 3 hours ago, hotchilli said: It won't be long before they say you can only make purchases from your local CP outlet Dude - you nailed it. Sorta like Covid. Only "Essential Business" will be allowed to participate. "Essential Business?" Thai monopolies or businesses run by connected Thai billionaires. 2 Link to comment Share on other sites More sharing options...
hotchilli Posted June 18 Share Posted June 18 5 hours ago, Gottfrid said: Totally useless scheme! It wasn't a scheme... it was a scam Link to comment Share on other sites More sharing options...
hotchilli Posted June 18 Share Posted June 18 4 hours ago, LivingNThailand said: This is very confusing . Do they mean you can't pay for something with the digital wallet using your mobile phone.? That is how I read it. Or you can't BUY a mobile phone with the digital wallet? The latter Link to comment Share on other sites More sharing options...
hotchilli Posted June 18 Share Posted June 18 2 hours ago, Purdey said: Just cancel the money giveaway. There must be another use for government funds during a period of high household debt. Perhaps some more military hardware is needed for when the population finally wake up 1 Link to comment Share on other sites More sharing options...
stoner Posted June 18 Share Posted June 18 7 hours ago, webfact said: This decision comes amid concerns that allowing such a purchase would not effectively stimulate domestic spending as most mobile phones are either imported or contain foreign components. what ? 1 Link to comment Share on other sites More sharing options...
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