Thai Lower House Passes Loan Bill With 284:152 Votes

[webfact]

Thai Lower House passes loan bill with 284:152 votes
By Digital Media



BANGKOK, March 30 – The Thai House of Representatives voted 284 against 152 late Friday night to sail through the highly-criticised bill intended to borrow Bt2 trillion for the country’s infrastructure investment.

Twenty-one MPs abstained and seven refused to vote. A 36-member committee was set up to deliberate the bill in the second reading within 30 days. The first committee meeting is set for Tuesday.

The bill was passed after two full days of heated debate. The Democrat Party insisted that it was unnecessary to borrow for the mammoth development projects and the government should acquire funding through the national budget.

The opposition said the huge loans will take five decades for repayment and the bill lacks transparent details on spending and development projects.

The Democrat Party told reporters earlier in the day that it was mulling a petition to the Constitution Court to seek its ruling on the legality of the bill.

Areepong Bhoocha-oom, finance permanent secretary, said the opposition has the right to seek the Constitution Court’s verdict on the borrowing bill which was earlier vetted by the Council of State at the government’s request.

The Council of State decided that the loans and the national budget were two separate, unrelated subjects and the constitution has impositions on financial legislation which include borrowing, he said.

In the second reading, the 36-member committee is obliged to study each article of the bill and the over 200-page appendix on three key strategies, mainly on rail system and transport.

The investment projects will connect different regions of the country and give the government leeway in its execution with the condition that all investments must be in accordance with the strategies stated in the appendix.

“Over 80 percent of the investment will be on rail systems which has been approved by several previous governments. Procurements must be done under regulations of the Prime Minister’s Office. It must be transparent and bid winners must be publicly announced,” Mr Areepong said.

Transport Minister Chadchart Sittipunt said the high-speed train projects will initially cover the Bangkok-Hua Hin and Bangkok-Nakhon Ratchasima routes and extensions will come in future stages. (MCOT online news)


-- TNA 2013-03-30

[Soupdragon]

Bangkoks flood defenses were given an early test this year when a wave of saliva flowed through the streets apparently come from the House of representatives.

[siampolee]

A charter flight was reported to be heading to Hong Kong to purchase a large number of expandable wallets so as the problems of storing excess cash about ones person until reaching either Dubai or a local bank become less of a problem

[Ricardo]

The financing of the new hi-so gravy-train network moves a step forward.

[EyesWideOpen]

The beginning of the end..... But I suppose if you take a sort of contrary

view, when Thailand collapses into massive debt ( sort of like Cypress),

guess things will become cheaper again ???

[rubl]

So, the bill has passed after two days of solid deliberation and careful studying. Next the second reading in 30 days.
""In the second reading, the 36-member committee is obliged to study each article of the bill and the over 200-page appendix on three key strategies, mainly on rail system and transport.""

I'm afraid this will spoil the Songkhran holiday of 36 committee members as surely they will feel the patriotic need to study, all pages, especially those 2-1/2 pages elaborately detailing each of the 100 projects. One can only hope that there will be no power lack to disrupt their studying sessions

[ZhouZhou]

The Thai House of Representatives voted 284 against 152

that is more than a clear signal whom the parliament supports.

[ianf]

The beginning of the end..... But I suppose if you take a sort of contrary

view, when Thailand collapses into massive debt ( sort of like Cypress),

guess things will become cheaper again ???

I guess those who are interested in the Cypress species may agree with you. However I am quite interested in the collapse of the economy in Cyprus and look forward to the same happening here. It may take a few years but those of us who rely on a good conversion rate of our overseas pensions will have to wait for the good times to roll again. Meanwhile one did not expect the collective red kwais to challenge the economics of their master. He has the appearance of being such a good businessman but this is just a facade, because behind the wealth exists a story of scamming, theft, a degree of good luck and downright bullying. To the average Thai it does not matter how you acquire your wealth - what matters is that it has been acquired. And once acquired you are regarded as someone who must be respected. Now the project appears to be scamming off more wealth to reward those disciples who have lauded their socio pathic master. 'nuff said!

[rubl]

284 for - 154 against, 21 abstained, 7 refused to vote, leaves 37 unaccounted for to make a grand total of 500

Can anyone please remind me how many MP's all coalition partners in the Pheu Thai-led government do have together?

[ZhouZhou]

284 for - 154 against, 21 abstained, 7 refused to vote, leaves 37 unaccounted for to make a grand total of 500

Can anyone please remind me how many MP's all coalition partners in the Pheu Thai-led government do have together?

it could be possible that a cabinet member with a MP seat is maybe not allowed to participate in such votings.

just a guess.

[rubl]

Lots of Pheu Thai MPs moving to a cabinet position relinquished their MP seat (as following standing order of the big boss). Normally only those cabinet members who are involved in the bill tabled would need to abstain from voting, and the PM of course.

[muttley]

284 for - 154 against, 21 abstained, 7 refused to vote, leaves 37 unaccounted for to make a grand total of 500

Can anyone please remind me how many MP's all coalition partners in the Pheu Thai-led government do have together?

You could look here https://en.wikipedia.org/wiki/Government_of_Thailand

If you were trying to make a political point you should just remember that 299 is a beautiful number. Abhisit has 159 MP's so who were the naughty 5?

[rubl]

I'm not trying to score points, just trying to put ZZ's remark in perspective:

that is more than a clear signal whom the parliament supports.

[chainarong]

Of course this has been to the forward planning and estimates committee and has been evaluated , allowing for on going loans, future loans , unfortunately a small matter of maintenance and expansion come to mind for the infrastructure, Goodluck.

[ZhouZhou]

Lots of Pheu Thai MPs moving to a cabinet position relinquished their MP seat (as following standing order of the big boss). Normally only those cabinet members who are involved in the bill tabled would need to abstain from voting, and the PM of course.

and not forget that yingluck never shows up in parliament, so she could not vote anyway.

[LuckyLew]

There are just too many zeroes for me to wrap my head around that I had to google "trillion". So if you take the low on of the tea money scale of 30% that would mean 600 billion is about to disappear and the Thai people will be left on the hook when it comes due. How about a nice cool billion for each of the 284 and a nice round 5 billion for the guy in dubuy, seems there will be over 300 billion to keep the rest happy.

The sooner this house of cards crashes the happier I will be ... say a nice 40 - 45 baht to the dollar would be nice

[ChrisY1]

All trimming the tusks to get more snout in the trough......and this is gonna be one big mother f.......g big trough!!

[jonclark]

The Thai House of Representatives voted 284 against 152

that is more than a clear signal whom the parliament supports.

Yet only yesterday PTP (Amnuay Klangpa - gove chief whip) went on record as saying they "expect" more than 310 votes, with government coalition partners expected to 'toe the line'. What happened PTP? Partners are starting to find your presence suffocating? Why did your coalition partners not vote for you PTP? Abstaining from voting, isn't endorsement.

Second time in a month that PTP have got their voting figures wrong!!

Edited March 30, 2013 by jonclark

[lungmi]

The Thai House of Representatives voted 284 against 152

that is more than a clear signal whom the parliament supports.

Absolutely right, they worry the salary from the Thai METROPOLIS in Dubai can be canceled.

[TomTao]

If you want to feed the buffalos, throw them some golden hay, "vote this bill through and I will make you all

rich(er)" said the man who would be emperor from his ivory tower in a distant land. Greed rules the day again.

[Locationthailand]

Oh dear here we go.....the policies of the USA and Europe which has left the people of those countries paying for the vast over expenditure of their politicans. Has anyone asked how long to pay back, how it will be paid back and has anyone asked the people do they want their money and futures being used thsi way. I will ask this question in ten years when it all goes wrong, as it will as any intelligent person knows who knows economical history.........it will happen and just like the uSA and Europe (I hope not), they will over borrow and end up in a mess....how long will it be before the people of this world realise their futures, their money and their lives are run by people who have no regard for their futures. I would have thought the evidence was so clear a child could see it. But alas it seems not.... cut backs for the people, bail outs for the elites who lost the money but then even have the gaul to ask the people who gave them the money in the first place, to pay for it all again......modern day politics can only make a decent intelligent human being sick to the very core of their stomach.......wave a golden carrot to the people, tell them it is just what they need, a small minorty get rich off it and the people end up paying for it for generations......oh how sad

Great Post

[NCFC]

The beginning of the end..... But I suppose if you take a sort of contrary

view, when Thailand collapses into massive debt ( sort of like Cypress),

guess things will become cheaper again ???

I guess those who are interested in the Cypress species may agree with you. However I am quite interested in the collapse of the economy in Cyprus and look forward to the same happening here. It may take a few years but those of us who rely on a good conversion rate of our overseas pensions will have to wait for the good times to roll again. Meanwhile one did not expect the collective red kwais to challenge the economics of their master. He has the appearance of being such a good businessman but this is just a facade, because behind the wealth exists a story of scamming, theft, a degree of good luck and downright bullying. To the average Thai it does not matter how you acquire your wealth - what matters is that it has been acquired. And once acquired you are regarded as someone who must be respected. Now the project appears to be scamming off more wealth to reward those disciples who have lauded their socio pathic master. 'nuff said!

There's something very disturbing about farangs who wish to see the Thai economy crash so that their overseas pensions will increase in value.

[rubl]

The beginning of the end..... But I suppose if you take a sort of contrary

view, when Thailand collapses into massive debt ( sort of like Cypress),

guess things will become cheaper again ???

I guess those who are interested in the Cypress species may agree with you. However I am quite interested in the collapse of the economy in Cyprus and look forward to the same happening here. It may take a few years but those of us who rely on a good conversion rate of our overseas pensions will have to wait for the good times to roll again. Meanwhile one did not expect the collective red kwais to challenge the economics of their master. He has the appearance of being such a good businessman but this is just a facade, because behind the wealth exists a story of scamming, theft, a degree of good luck and downright bullying. To the average Thai it does not matter how you acquire your wealth - what matters is that it has been acquired. And once acquired you are regarded as someone who must be respected. Now the project appears to be scamming off more wealth to reward those disciples who have lauded their socio pathic master. 'nuff said!

There's something very disturbing about farangs who wish to see the Thai economy crash so that their overseas pensions will increase in value.

Even more so as for some it would be the second time

[OzMick]

Lots of Pheu Thai MPs moving to a cabinet position relinquished their MP seat (as following standing order of the big boss). Normally only those cabinet members who are involved in the bill tabled would need to abstain from voting, and the PM of course.

Why would ministers who are MPs not vote for their own policies? They certainly do in parliaments where all ministers are MPs. As does the PM, but in that situation it is normal for the PM to attend and be available to vote.

BTW What is the difference between "abstained" and "refused to vote"?

[rubl]

Constitution 2007
Section 177. A Minister has the right to attend and give a statement of facts or opinions at a sitting of the House. In the case where the House of Representatives or the Senate has passed a resolution requiring Ministers to attend a sitting for any matter, he shall attend the sitting. The provisions of section 130 governing privileges shall apply mutatis mutandis.

In the case where a Minister is a member of the House of Representatives simultaneously, he must, in the sitting of the House of Representatives, abstain from voting in relation to the matter concerning with the holding of his position or the performance of his duty or the matter he has interests therewith.

[OzMick]

Constitution 2007

Section 177. A Minister has the right to attend and give a statement of facts or opinions at a sitting of the House. In the case where the House of Representatives or the Senate has passed a resolution requiring Ministers to attend a sitting for any matter, he shall attend the sitting. The provisions of section 130 governing privileges shall apply mutatis mutandis.

In the case where a Minister is a member of the House of Representatives simultaneously, he must, in the sitting of the House of Representatives, abstain from voting in relation to the matter concerning with the holding of his position or the performance of his duty or the matter he has interests therewith.

Thank you. Another case of TIT!

[belg]

what a great idea and vision (to steal so much) ... lets borrow 2.000.000.000.000 baht and pay it back over 50 years

yeah ... that will work out just fine, only have to pay back 250% in interest

[473geo]

A very interesting turn of events, the elected respresentatives have voted in favour, let us note as future decisions unfold, the true 'democratic construction' of decision making in Thailand.....

[tragickingdom]

A 2/3 majority will probably mean that Abhisit will ask for a putsch, or he needs the help from unelected fee loaders in the senate to come up with another nonsense claim to stop it.

[khunken]

Yes it was really unexpected given that the PTP, even without their partners, have a majority.

It was even more unexpected after Thaksin issued orders that they'd better pass it, or else.

Wonderful to see democracy in action, Thai style - Thaksin thinks, PT acts.

I'm all overcome with the democracy of it - now for some amnesty.