Former PM Thaksin Calls for More Government Control Over Bank of Thailand

[snoop1130]

 

Former Prime Minister Thaksin Shinawatra suggested that the Bank of Thailand should be more government-oriented and less independent during his recent address at the Forbes Global CEO Conference. The session, dubbed "New Paradigms", involved a candid conversation on the current economic landscape and saw Shinawatra raising concerns about the central bank's present approach.

 

He stressed the potential disconnect between the academic prowess of the bank's staff and their experiential knowledge, mentioning that while the majority being Grade-A students and top-notch economists, they needed to gain more hands-on experience. He expressed that the Bank of Thailand's staunch protection of commercial banks might not always serve problematic customers best, implying this contributes to a lack of liquidity in the local market.

 

Shinawatra pointed to the countervailing actions of the government, such as the introduction of stimulus packages like the 'digital wallet' scheme to infuse money back into the economy. He likened this strategy to fish in a pond - they may lay eggs while the pond is full, but in drier times, reproduction becomes less viable.

 

 

In addition to this, the former premier let on about tentative plans to issue a government bond-backed 'Stable Coin' to further enhance market liquidity. He also highlighted proposed tax reforms aimed at reducing personal and corporate taxes whilst upping VAT, a move meant to bolster the price competitiveness of Thai products.

 

Recognising China's dominance in the consumer product space, Shinawatra recommended measures to protect Thai SMEs such as imposing taxes on online businesses and banning online retail apps which skirt around tax provisions.

 

Looking to the future, he asserted the need for Thailand over the next five years to hinge its economic progression on a creative economy and data centres. His comments certainly stirred up a lively discussion at the plug-and-play table, inviting all to mull over the road that lies ahead for Thailand.

 

File photo for reference only

 

-- 2024-11-22

 

 

[Tropicalevo]

Noooooo!

Leave the BOT alone.

They know what they are doing.

[John Drake]

This sounds like a prime minister talking.

[BrandonJT]

4 hours ago, snoop1130 said:

 

In addition to this, the former premier let on about tentative plans to issue a government bond-backed 'Stable Coin' to further enhance market liquidity. He also highlighted proposed tax reforms aimed at reducing personal and corporate taxes whilst upping VAT, a move meant to bolster the price competitiveness of Thai products.

 

 

So an increase in taxes on the poor and a reduction in taxes on the rich and businesses.  I'm sure that will increase the money flowing through the economy, as it has in everywhere that has tried trickle down economics 🙄

[Patong2021]

The man can't keep his yap shut.  A fundamental rule of good oversight of a national bank is to maintain its independence.

I can see now why responsible Thai leaders despise the man.

[Tropicalevo]

6 minutes ago, Patong2021 said:

The man can't keep his yap shut.  A fundamental rule of good oversight of a national bank is to maintain its independence.

I can see now why responsible Thai leaders despise the man.

There are responsible Thai leaders?

Who the heck was he?

[Patong2021]

3 hours ago, Tropicalevo said:

There are responsible Thai leaders?

Who the heck was he?

 

4 Honest and genuine people who were politically active. None of whom are/were professional politicians, but all of whom had the confidence of people who voted for them, and all free of  the taint of corruption.

-Pita Limjaroenrat, one of the kindest and most sincere of Thailand's younger political initiates.  He is still around, albeit muzzled.

-Natthaphong Ruengpanyawut.  aka Mr. Robot.

-Sarayut Jailak

-Thanathorn Juangroongruangkit   

[thesetat2013]

5 hours ago, Patong2021 said:

The man can't keep his yap shut.  A fundamental rule of good oversight of a national bank is to maintain its independence.

I can see now why responsible Thai leaders despise the man.

Hard to believe it took you this long to see.. Everyone else has had their eyes opened about Thaksin for a very long time already. 

[willip]

Thaksin is still the PM. Politicians are corrupt. That's why the newly elected one wasn't allowed to cease power when officially elected. 

He wasn't allowed to take his place (seat) as duely elected. 

So Thaksin got another of his family elected.  Not Thaksin.  Not his sister who like him, faces jail time! But is staying out of the country. So his daughter is elected .smell something???

Money 💰 is the root of Thailands corruption and politics. 

Sadly. That's why the red bull grandson won't face his jail time.  For killing a POLICEMAN.  money talks! And let's you walk. 

[hotchilli]

12 hours ago, snoop1130 said:

Former Prime Minister Thaksin Shinawatra suggested that the Bank of Thailand should be more government-oriented and less independent during his recent address at the Forbes Global CEO Conference. T

I really do wish he'd sod off back to Dubai... he's meddling in politics here too much now.

[hotchilli]

9 hours ago, John Drake said:

This sounds like a prime minister talking.

It is

[rwill]

So he wants to be in charge of the central bank and thinks customers are problematic...

[nobodysfriend]

12 hours ago, snoop1130 said:

the Bank of Thailand should be more government-oriented and less independent

 

12 hours ago, snoop1130 said:

involved a candid conversation on the current economic landscape and saw Shinawatra raising concerns about the central bank's present approach.

 

Thaksin is the one who wants to control the Bank of Thailand .

He wants Thailand to become an autocracy with him or his clonies as head of state .

He sees Trump , Putin , Kim etc ...

He is an enemy of the thai democracy .

Thailand , beware .

[watchcat]

45 minutes ago, hotchilli said:

he's meddling in politics here too much now.

 

Indeed he is but nobody seems to care, womder why?

[nobodysfriend]

12 hours ago, snoop1130 said:

Shinawatra recommended measures to protect Thai SMEs such as imposing taxes on online businesses and banning online retail apps which skirt around tax provisions.

 

All of his " ideas " make life more difficult and expensive for the people living here .

[watchcat]

7 minutes ago, nobodysfriend said:

Thailand , beware .

 

I'd say, Taksin beware !

[jippytum]

Thaksin and his cronies want to control the Bank of Thailand in addition to the countries finances. 

The Bank of Thailand has aways been independant 

of Thai politicians and rightly so. 

Now Phue Thai politicians some with criminal convictions want to exert control over the banking system. 

In the past Thaksin with his  Phue Thai populist policies have cost the country billions  of  Baht.  It would have been much worse without independant bank control. 

Edited 11 hours ago by jippytum

[Expat Tom]

Taksin completed a successful silent coup and seized control of the country he was exiled from. Maybe its a good thing and maybe not but the fact remains that the Taksin family and their minions run Thailand. Anyone who actually believes that his daughter does ANYTHING with out his council and direction is just naive. 

 

As an grateful and happy expat living in this fascinating "land off Smiles", I don't have a horse in the Thai political race. I am just an bemused observer and hope for the best for all. Obviously, Thailand belongs to the Thai people and any farang living here is a guest. I am sure that 99% of the farang living here arrived by airplane and if Thailand no longer suits their needs the planes fly in both directions. 

 

 

[TheFishman1]

There should not be any question on who’s leading the government of Thailand this is a guy the day before he came back after being on the run for 15 years was dancing and partying which is buddy the dictator  a neighboring country then flies in here and his golf stream jet and within hours he’s so ill he has to spend six months at a hospital naturally no expense to him and now he’s running the country go figure TIT

[JimHuaHin]

1 hour ago, soalbundy said:

No, despite his misdeeds Thaksin is intelligent, there's a big difference.

Yes, he has a PhD in criminal justice.  But intelligence does not equate with moral and ethical behaviour nor with selflessness.

[Gottfrid]

Of course he want the government to have control over BOT. As his daughter is undisputed sitting PM and he get a chance to control all the money.

[BarBoy]

I thought he was supposed to be taking care of his grandkids??

 

where does he find the time to talk about the BOT?

[soalbundy]

6 minutes ago, Gottfrid said:

Of course he want the government to have control over BOT. As his daughter is undisputed sitting PM and he get a chance to control all the money.

A little over simplified, that's not anywhere near how it could work.

[parallelman]

Obviously Thaksin doesn't like the idea that a major independent institution being able to disclose the truth about the economy of Thailand...just as he doesn't want the truth to come out about his 'hospitalisation'. What surprises me is the comspicuious silence of Army related MP's telling Thaksin to 'shut up'...or do they want him to be the cause of another coup?

[Snackbar]

Got some brass neck on him interfering 

[Gottfrid]

7 minutes ago, soalbundy said:

A little over simplified, that's not anywhere near how it could work.

I know, but that´s what he want.

[RichardColeman]

1 hour ago, rwill said:

So he wants to be in charge of the central bank and thinks customers are problematic...

Be fair, with the amount of Thais borrowing money they never pay back , they partially are

[metisdead]

A post with comments about the King has been removed:

• Speculation, comments or discussion of either a political or personal nature are not allowed when discussing His Majesty The King of Thailand or the Thai royal family. 

Some posts with trolling comments about Trump have been removed.

[JoePai]

Just wants to get his grubby hands on yet more money

[khunjeff]

Ex-con with no position in the government says whaaaaat??