Borrowing 400 Billion Could Be Delayed

[churchill]

Chief government whip Chinnaworn Boonyakiat admitted the government may need to put off processing of the agenda concerning the decree that would allow it to borrow 400 billion baht at the House of Representatives meeting on Monday, after Puea Thai party requested that the Constitutional Court rule whether the decree was valid.

Mr Chinnaworn said the agenda on the decree would cease if the court ruled the decree as unlawful. The cabinet would be able to request an extraordinary House session later if the court deemed the decree as legitimate.

Mr Chinnaworn said a similar attempt was approved during the Thaksin administration, and thus he was confident over legitimacy of the decree.

-- Bangkok Post 16/05/09

http://www.bangkokpost.com/breakingnews/14...ould-be-delayed

[churchill]

So is the Government governing or not !

[TEFLMike]

Depends what they want to borrow it for? Or, have I missed something?

[MJP]

Depends what they want to borrow it for? Or, have I missed something?

Infrasturcture, agricultural development, energy development anything sustainable I think. If this is the Japanese soft loan?

[PastEgo]

Soi Cowboy is getting expensive eh

[mommysboy]

Chief government whip Chinnaworn Boonyakiat admitted the government may need to put off processing of the agenda concerning the decree that would allow it to borrow 400 billion baht at the House of Representatives meeting on Monday, after Puea Thai party requested that the Constitutional Court rule whether the decree was valid.

Mr Chinnaworn said the agenda on the decree would cease if the court ruled the decree as unlawful. The cabinet would be able to request an extraordinary House session later if the court deemed the decree as legitimate.

Mr Chinnaworn said a similar attempt was approved during the Thaksin administration, and thus he was confident over legitimacy of the decree.

-- Bangkok Post 16/05/09

http://www.bangkokpost.com/breakingnews/14...ould-be-delayed

Surprise, surprise, borrow have to pay back! take from farang gaw dai!

[samgrowth]

Mr Chinnaworn said a similar attempt was approved during the Thaksin administration, and thus he was confident over legitimacy of the decree.

-- Bangkok Post 16/05/09

http://www.bangkokpost.com/breakingnews/14...ould-be-delayed

But didn't the Mark government say that Thaksin government was corrupted?

[brahmburgers]

So is the Government governing or not !

Not.

40 Bil. is roughly Bt.6,000 for each Thai person.

Two suggestions:

#1. spend less, and more wisely. Start with dissolving TAT.

#2. tax properties more fairly. I saw the news item recently about the gov't plans to increase property tax and inheritance tax. The article said inheritance was too tough to tackle. As for property, tax, it looked to me like 'too little too late.' In both cases, it will doubtless leave a whole lot of wiggle room for unscrupulous rich people to continue avoid taxes (with Thaksin as their poster boy). Even with the proposed tax reform, upper crust property owners will continue to leave their lands fallow, and allow half finished cement skeletons to slowly crumble along the highways. Over the years, I've seen a bunch of abandoned multi-bedroom houses where vines are growing in to the interiors, and hornets nests nestled in some of their ceilings. The absentee Chinese-Thai owners are off somewhere, maybe in Bangkok counting their gold or playing golf, while their properties slowly dissolve. I've also seen multi-thousand rai rural properties covered in 3 meter high weeds. No farmers in sight. Same dynamic at play. Taxes with teeth would be a wake-up call for such idle rich and their unused resources.

[animatic]

So is the Government governing or not !

Not.

40 Bil. is roughly Bt.6,000 for each Thai person.

Two suggestions:

#1. spend less, and more wisely. Start with dissolving TAT.

#2. tax properties more fairly. I saw the news item recently about the gov't plans to increase property tax and inheritance tax. The article said inheritance was too tough to tackle. As for property, tax, it looked to me like 'too little too late.' In both cases, it will doubtless leave a whole lot of wiggle room for unscrupulous rich people to continue avoid taxes (with Thaksin as their poster boy). Even with the proposed tax reform, upper crust property owners will continue to leave their lands fallow, and allow half finished cement skeletons to slowly crumble along the highways. Over the years, I've seen a bunch of abandoned multi-bedroom houses where vines are growing in to the interiors, and hornets nests nestled in some of their ceilings. The absentee Chinese-Thai owners are off somewhere, maybe in Bangkok counting their gold or playing golf, while their properties slowly dissolve. I've also seen multi-thousand rai rural properties covered in 3 meter high weeds. No farmers in sight. Same dynamic at play. Taxes with teeth would be a wake-up call for such idle rich and their unused resources.

6,000 a year is 500 baht a month.

Would you gladly pay 500baht and keep your job,

or save 500baht and lose your job?

Yes they ARE talking about adjusting taxes to be more fair.

Many vested interests DON'T want that, but the bill is in the works.

Dissolving TAT might help in the long term, but really a drop in the bucket now

and limits the ability to do damage control internationally for the large tourism sector.

[jayboy]

Returning to topic, I note that Khun Sophon of the Nation makes a virulent attack on the Finance Minister Korn today.Interesting.

http://www.nationmultimedia.com/2009/05/19...on_30102940.php