PM Declines to Confirm Reduction of Phase 2 Cash Giveaway to 5,000 Baht

[webfact]

FILE - Thailand's Prime Minister-designate Paetongtarn Shinawatra, with members of Pheu Thai party talks to reporters during a press conference at Pheu Thai party headquarters in Bangkok, Thailand, Friday, Aug. 16, 2024. (AP Photo/Wason Wanichakorn)

 

Prime Minister Paetongtarn Shinawatra has sparked uncertainty by refusing to confirm whether the second phase of the 10,000 baht cash handout will be reduced to 5,000 baht. The cash giveaway was initially intended to support over 30 million people.

 

Addressing reporters at Government House today, Paetongtarn said, "Wait a bit, wait for the Treasury Department to confirm. There are options, if I explain now it (the explanation) would be too short."

 

She suggested that a more detailed statement might follow after the cabinet meeting.

 

The cash handout is a populist measure initiated by the Pheu Thai Party to provide financial relief. As of last Wednesday, some 14.5 million farmers and other individuals in vulnerable categories received the initial 10,000 baht grant in full.

The Prime Minister also did not confirm rumours regarding potential defections of key political figures to the Pheu Thai Party. When questioned about Palang Pracharath deputy leader Mr. Santi Promphat and party director Mr. Warathep Rattanakorn's possible crossover, she simply smiled and remained silent.

 

Deputy Prime Minister and Defence Minister Phumtham Wechayachai added that he only learned of these rumours through newspapers and mentioned that no formal discussions had occurred with the aforementioned politicians, reported Thai Newsroom.

 

This development follows last month's political shake-up when renegade MP Thammanat Prompao led an exodus of 20 MPs from Palang Pracharath to support the Pheu Thai-led government, potentially impacting future legislative dynamics.

 

The local community remains attentive to any further announcements regarding the cash giveaway. Residents and analysts alike are keenly aware of the broader economic and political implications such measures might entail. For now, they await the Government's definitive stance on Phase 2 of the handout programme.

 

As the situation unfolds, the government's next steps will be closely monitored, with upcoming cabinet meetings expected to shed light on the final decision.

 

-- 2024-09-27

 

[hotchilli]

10 hours ago, webfact said:

Prime Minister Paetongtarn Shinawatra has sparked uncertainty by refusing to confirm whether the second phase of the 10,000 baht cash handout will be reduced to 5,000 baht. The cash giveaway was initially intended to support over 30 million people.

In Thai parlance it's Zig Zagging..

[redwood1]

I think 5000 is plenty of money for the Thai people.......They can now take that extra 5000 and give it all to farang expats......We need at least 100,000 baht each so we can do some real economy stimulating........Thank you Thaksin......

[suestra29]

Paying 5,000 or 10,000 is not going to stimulate the economy as the money will just go to pay off debt. Meanwhile the government is borrowing the money to pay out this. ‘Twas not thought out and ‘‘twas just a vote catcher. 

[petermik]

5 minutes ago, suestra29 said:

‘Twas not thought out and ‘‘twas just a vote catcher. 

Every man and his dog knew that...

[Hunz Kittisak]

8 minutes ago, suestra29 said:

Paying 5,000 or 10,000 is not going to stimulate the economy as the money will just go to pay off debt. Meanwhile the government is borrowing the money to pay out this. ‘Twas not thought out and ‘‘twas just a vote catcher. 

Are you an economist? 
Many countries give cash handouts to stimulate the economy, the latest being China. 
Please give credit when credit is due. Three cheers for Pheu Thai

[Will B Good]

Well that is mental......if the 10k is expected to be a massive boost to the economy and whip through Thailand's economy like a whirlwind.......why, oh why, would you want to halve its impact by dropping to 5k.....very odd?????

 

I smell porkies.

[Will B Good]

 

 

OMG.....just thought.....could the other half of the 10k have already found its way into Thai politicians bank accounts......surely not?

[kimamey]

1 hour ago, Hunz Kittisak said:

Are you an economist? 
Many countries give cash handouts to stimulate the economy, the latest being China. 
Please give credit when credit is due. Three cheers for Pheu Thai

There was some doubt as to how much difference 10,000 baht would make, and for how long.  All these reductions will presumably reduce the effect. Has any research been done on this?

 

If it doesn't work, will it be because it was scaled back and therefore just be money wasted?

 

Another method used to specifically boost the auto industry around the world were subsidies or tax breaks for buying new more efficient vehicles whilst scrapping old vehicles. Hence 'scrappage schemes'. This should mean no vehicle number increase due to the scheme of properly implemented.

 

Thailand had its own scheme with it own touch of Thainess. We bought our Honda Jazz in 2012 using this scheme and we still have it on around 274,000km. Because it was fire those buying their first car it resulted in a few things. Grandparents and those who couldn't drive suddenly owning  vehicle, often a pickup which I'd see coming toward me on my side of the narrow road on the way to our local market.

The main difference of course is it increased vehicle count rather than being neutral. That was PT as well. 

Edited September 28 by kimamey

[crazykopite]

8 hours ago, suestra29 said:

Paying 5,000 or 10,000 is not going to stimulate the economy as the money will just go to pay off debt. Meanwhile the government is borrowing the money to pay out this. ‘Twas not thought out and ‘‘twas just a vote catcher. 

I read today that a Thai only had 4,000

baht as the bank had deducted 6,000 baht from a debt owed if true how will that help the economy . If it’s going to

be reduced to 5,000 baht it proves that they don’t have the funds to

hand out I can see a lot of angry people 

[Maybole]

This may be slightly off topic.

How long before some politition proposes a "once only" special levy on falang to pay for it all?