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

[Lopburikid]

14 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. 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

 

 

More government control??????? Doesn't he mean more of his family's control as that is what this government is.

[riverhigh]

Thaksin doesn't understand boundries. Politics and BOT must be kept separate. The primary justification for an independent BOT is that it's necessary to insulate system from short-term political pressures. Without a degree of autonomy, the BOT would be influenced by corrupt election-focused politicians.

[john donson]

still not in jail?  still meddling around...  

[RayOday]

Spoken like a true wannabe authoritarian who desires total control. Central banks should be non-partisan.

[crazykopite]

There is only one person running the country and it’s Kuhn Toni those who think it’s his daughter are fools 

[PETERTHEEATER]

5 hours ago, Snackbar said:

Got some brass neck on him interfering 

That's what a good neck brace can do for you. 😀