Thai Senate passes loan bill in hush-hush manner

[webfact]

Senate passes loan bill in hush-hush manner

BANGKOK: -- The Senate passed the controversial 2 trillion baht loan bill at 02.30 a.m. today in a hush-hush manner with a vote of 63 to 13, and three abstentions.

The bill empowers the Finance Ministry to seek loans to finance infrastructure projects without having to seek prior approval from the Parliament and through the normal budgetary system.

The bill was passed with the majority of the senators agreeing to contain its original version that was earlier approved by the House of Representatives that empowers the Finance Ministry to seek loans.

The bill will go to the prime minister to forward to His Majesty the King for royal endorsement.

Earlier before the passage of the bill, Senate Speaker Nikhom Wairatpanich has notified the Senate the deliberation of the loan bill would end at midnight so that another meeting would be held to continue the deliberation at 9 a.m. today.

However he did not keep his word and allowed senators to continue the deliberation of the bill and called a vote at 02.50 a.m.

The opposition Democrat party is now encouraging the House Speaker to pass on its petition against the loan bill to the Constitutional Court for ruling if such bill is again violating the Constitution.

The bill passed approval of the House of Representatives with a vote of 287 to 105 with 11 abstentions on September 21.

The loan bill came under attack by opposition leader Abhisit Vejjajiva that it would provide huge fiscal burdens for future generations with an estimated additional 3 trillion baht in interest over the course of 50 years, The burden of paying off this massive loan rests on the current and future taxpayers, children and their grandchildren.

But Finance Minister Kittirat na Ranong defended the loan bill and dismissed fear that the loan would raise the country’s public debt over 50% of GDP. The debt ceiling under national standards for fiscal discipline is currently set at 60% of GDP.

Prime Minister Yingluck Shinawatra also defended saying the loan would be used to fund mega transport projects over the next seven years. She also attributed spending of the loan for the continuity of the plan rather than the bureaucratic annual budget system.

Source: http://englishnews.thaipbs.or.th/senate-passes-loan-bill-hush-hush-manner/

-- Thai PBS 2013-11-20

[Local Drunk]

This government tends to keep everyone in the dark about what they are doing. To wit: they pass their legislation while the people are sleeping.

[worgeordie]

Will some of this money be used to buy some bigger and better

troughs for Parliament,as I think they are going to need some

with all this money on offer.

regards Worgeordie

[smutcakes]

This government tends to keep everyone in the dark about what they are doing. To wit: they pass their legislation while the people are sleeping.

I think you will find the Dems are also in favour of this bill. After all there are many of them and their families who will make good money from it. Where was your beloved opposition?

[worgeordie]

It will also be in hush hush manner where a large percentage of this

money ends up.

regards Worgeordie

[Bluespunk]

This government tends to keep everyone in the dark about what they are doing. To wit: they pass their legislation while the people are sleeping.

I think you will find the Dems are also in favour of this bill. After all there are many of them and their families who will make good money from it. Where was your beloved opposition?

Not all dems it would seem are in favour

"The loan bill came under attack by opposition leader Abhisit Vejjajiva that it would provide huge fiscal burdens for future generations with an estimated additional 3 trillion baht in interest over the course of 50 years, The burden of paying off this massive loan rests on the current and future taxpayers, children and their grandchildren."

[smutcakes]

It will also be in hush hush manner where a large percentage of this

money ends up.

regards Worgeordie

Agreed, just look at the winning bid for the flood works!

[thaicbr]

This government tends to keep everyone in the dark about what they are doing. To wit: they pass their legislation while the people are sleeping.  

 

 

I think you will find the Dems are also in favour of this bill. After all there are many of them and their families who will make good money from it. Where was your beloved opposition?

It was the Senate not Parliament. Try to keep up. Also your reading comprehension needs work. The senate speaker said the deliberation would end at 12 and continue the next day. Then he carried on after people had left.... democracy... PTP style.

Sent from my phone with the app thingy.

[Nickymaster]

This government tends to keep everyone in the dark about what they are doing. To wit: they pass their legislation while the people are sleeping.

I think you will find the Dems are also in favour of this bill. After all there are many of them and their families who will make good money from it. Where was your beloved opposition?

Uhhh... here?

The loan bill came under attack by opposition leader Abhisit Vejjajiva that it would provide huge fiscal burdens for future generations with an estimated additional 3 trillion baht in interest over the course of 50 years, The burden of paying off this massive loan rests on the current and future taxpayers, children and their grandchildren.

[Bluespunk]

"Earlier before the passage of the bill, Senate Speaker Nikhom Wairatpanich has notified the Senate the deliberation of the loan bill would end at midnight so that another meeting would be held to continue the deliberation at 9 a.m. today.

However he did not keep his word and allowed senators to continue the deliberation of the bill and called a vote at 02.50 a.m."

Lies, damned lies and senate speaker promises.

[smutcakes]

This government tends to keep everyone in the dark about what they are doing. To wit: they pass their legislation while the people are sleeping.

I think you will find the Dems are also in favour of this bill. After all there are many of them and their families who will make good money from it. Where was your beloved opposition?

Uhhh... here?

The loan bill came under attack by opposition leader Abhisit Vejjajiva that it would provide huge fiscal burdens for future generations with an estimated additional 3 trillion baht in interest over the course of 50 years, The burden of paying off this massive loan rests on the current and future taxpayers, children and their grandchildren.

Ahhh bless him. Dont see any of his party supporting him on this.

[waza]

Typical Thaksin modus operandi of deceit, lies and greed. Only 78 out of 150 senators voted on this bill and only 63 voted yes that is about 42% of the total senators, less than a majority.

If the Thai populous wasn't outraged before they might be now, this may be the straw that broke the camels back.

Edited November 20, 2013 by waza

[thaicbr]

 

 

This government tends to keep everyone in the dark about what they are doing. To wit: they pass their legislation while the people are sleeping.  

 

 

I think you will find the Dems are also in favour of this bill. After all there are many of them and their families who will make good money from it. Where was your beloved opposition?

 

 

Uhhh... here?

The loan bill came under attack by opposition leader Abhisit Vejjajiva that it would provide huge fiscal burdens for future generations with an estimated additional 3 trillion baht in interest over the course of 50 years, The burden of paying off this massive loan rests on the current and future taxpayers, children and their grandchildren.

 

 

 

Ahhh bless him. Dont see any of his party supporting him on this.

Please explain?

Sent from my phone with the app thingy.

[NongKhaiKid]

"Earlier before the passage of the bill, Senate Speaker Nikhom Wairatpanich has notified the Senate the deliberation of the loan bill would end at midnight so that another meeting would be held to continue the deliberation at 9 a.m. today.

However he did not keep his word and allowed senators to continue the deliberation of the bill and called a vote at 02.50 a.m."

Lies, damned lies and senate speaker promises.

Is he related to Somsak by any chance ?

[Thainy Tim]

This is yet another travesty of manipulation and destruction of the democratic process.

74 Senators with no opportunity to vote. <deleted>??

You can guarantee that this has all been set up with EVERY senator with a 'for' vote in attendance with all the guaranteed 'Nay' voters being kept in the dark thinking that they could cast their vote at 9am.

Then it is rushed over to his majesty probably before the ink had dried.

I hope this causes yet another shit storm. It clearly underlines what this government is all about.

I bet the upper house is in chaos at this moment in time when half the senate find out that they have had their voting privileges removed by the 'firmly in the pocket' speaker of the house.

Abhisit will definitely score good on this one with the constitutional court. Talk about playing into the hands of the enemy.

[boomerangutang]

Typical Thaksin modus operandi of deceit, lies and greed. Only 78 out of 150 senators voted on this bill and only 63 voted yes that is about 42% of the total senators, less than a majority. If the Thai populous wasn't outraged before they might be now, this may be the straw that broke the camels back.

It takes a lot to outrage the Thai populous. They didn't get enraged when the Reds torched large buildings in downtown Bkk.

The bill should not be called '2 trillion baht...' (it's initial outlay is 2.2 trillion, and any fool would know it will balloon monthly). It should be called 'The 6 Trillion Baht Boondoggle') because that's what it will cost if/when the Thai taxpayers pay it off with % in 60 years, and that's a BIG IF.

This Shinawatre-sponsored bill is arguably more treasonous (for the dire harm it brings to Thailand) - than even Thaksin's funding and inciting riots in Bkk in 2009 and 2010.

Its main directive is a north/south speedo train which will bolster Chinese commerce. That's what we get from the Chinese-Thai Shinawatres.

[sjjmmi]

Will some of this money be used to buy some bigger and better

troughs for Parliament,as I think they are going to need some

with all this money on offer.

regards Worgeordie

[Thainy Tim]

Everyone opposed can always petition the World Bank to reject the loan and instigate the road that was followed by the loan bill and how unconstitutional it was.

It is not Thailand that makes the ultimate decision on the loan, just make the World Bank aware of the actual level of corruption here and they will give it consideration.

There are many other countries that deserve that money a hell of a lot more than Thailand.

Edited November 20, 2013 by Thainy Tim

[thaicbr]

Everyone opposed can always petition the World Bank to reject the loan and instigate the road that was followed by the loan bill and how unconstitutional it was.

 

It is not Thailand that makes the ultimate decision on the loan, just make the World Bank aware of the actual level of corruption here and they will give it consideration.

 

There are many other countries that deserve that money a hell of a lot more than Thailand.

The majority of loans in question are thought to be coming from Chinese and Japanese banks with others coming from Thai banks.... 1997 all over again.... maybe.. maybe not..

Sent from my phone with the app thingy.

[smutcakes]

Everyone opposed can always petition the World Bank to reject the loan and instigate the road that was followed by the loan bill and how unconstitutional it was.

It is not Thailand that makes the ultimate decision on the loan, just make the World Bank aware of the actual level of corruption here and they will give it consideration.

There are many other countries that deserve that money a hell of a lot more than Thailand.

The majority of loans in question are thought to be coming from Chinese and Japanese banks with others coming from Thai banks.... 1997 all over again.... maybe.. maybe not..

Sent from my phone with the app thingy.

haha, go back to teaching kindergarten Tell me the similarities between now and 1997..... waiting waiting... still waiting...............Those extremely risky bankers from Japan!!!!

[Bakseeda]

Everyone opposed can always petition the World Bank to reject the loan and instigate the road that was followed by the loan bill and how unconstitutional it was.

It is not Thailand that makes the ultimate decision on the loan, just make the World Bank aware of the actual level of corruption here and they will give it consideration.

There are many other countries that deserve that money a hell of a lot more than Thailand.

The majority of loans in question are thought to be coming from Chinese and Japanese banks with others coming from Thai banks.... 1997 all over again.... maybe.. maybe not..

Sent from my phone with the app thingy.

I am led to believe that the Chinese bank has already said it will fund this humongous loan.. Who will receive the huge commission cheque, for sure the man in Dubai....One way to own Thailand and sell your trains... Rock on China...

[thaicbr]

Smutcakes. Do you think it correct that a Democratic government resorts to this sort of behavior?

And to answer your question. The government is spending more than it's earning. They have already put BAAC under pressure by not dispersing promised funds on time.

Also I did state maybe. I told you your reading comprehension needed work.

Sent from my phone with the app thingy.

[Thainy Tim]

Not the smartest of moves from this bunch of imbeciles once again.

On the day the constitutional court is considering the charter change, they end up with yet another instance of dissent from this bunch of idiots. Once again showing that they have absolutely no regard for the constitution of Thailand.

This is the reason they are in the dock today, and the last thing they needed was another crass example thrown on the table in front of the judges.

That won't win any support with the CC. It will just alienate them further. I hope the CC make a negative judgement against the government and this doctored senate. I also hope they evoke all their powers to throw this bunch of morons on the rubbish heap where they belong.

Get them all out now. Saves the army a dirty unpopular job of doing it further down the line once they themselves have had a gut full.

[webfact]

Korn seeks Constitution Court's ruling on Bt2 trillion borrowing bill

BANGKOK: -- Democrat MP Korn Chatikavanij posts on his facebook that he had asked the Constitution Court to rule on the legality of the Bt2 trillion borrowing bill which the Senate already passed early Wednesday.


-- The Nation 2013-11-20

[Asiantravel]

Everyone opposed can always petition the World Bank to reject the loan and instigate the road that was followed by the loan bill and how unconstitutional it was.

It is not Thailand that makes the ultimate decision on the loan, just make the World Bank aware of the actual level of corruption here and they will give it consideration.

There are many other countries that deserve that money a hell of a lot more than Thailand.

Is it the World Bank that will be providing this money? Because In 2009 there was an article saying they themselves were running out of money?

http://www.telegraph.co.uk/finance/financialcrisis/6255816/World-Bank-could-run-out-of-money-within-12-months.html

[Thainy Tim]

Everyone opposed can always petition the World Bank to reject the loan and instigate the road that was followed by the loan bill and how unconstitutional it was.

It is not Thailand that makes the ultimate decision on the loan, just make the World Bank aware of the actual level of corruption here and they will give it consideration.

There are many other countries that deserve that money a hell of a lot more than Thailand.

Is it the World Bank that will be providing this money? Because In 2009 there was an article saying they themselves were running out of money?

http://www.telegraph.co.uk/finance/financialcrisis/6255816/World-Bank-could-run-out-of-money-within-12-months.html

I read it in the Bangkok Post a while back.

I can't find it now. But it comes up on Google as

Thailand is planning on taking on a massive 2-trillion-baht loan from the World Bank

[Mampara]

Will some of this money be used to buy some bigger and better

troughs for Parliament,as I think they are going to need some

with all this money on offer.

regards Worgeordie

I'm afraid not, but they will be buying a fleet of luxury equipped Boings better than "Air Force One" to serve the whims of the ruling party.

[Mampara]

It will also be in hush hush manner where a large percentage of this

money ends up.

regards Worgeordie

Yea! something fishy, is going on perhaps they should all be asked to surrender their passports in the mean time,

[Thai at Heart]

This is yet another travesty of manipulation and destruction of the democratic process.

74 Senators with no opportunity to vote. <deleted>??

You can guarantee that this has all been set up with EVERY senator with a 'for' vote in attendance with all the guaranteed 'Nay' voters being kept in the dark thinking that they could cast their vote at 9am.

Then it is rushed over to his majesty probably before the ink had dried.

I hope this causes yet another shit storm. It clearly underlines what this government is all about.

I bet the upper house is in chaos at this moment in time when half the senate find out that they have had their voting privileges removed by the 'firmly in the pocket' speaker of the house.

Abhisit will definitely score good on this one with the constitutional court. Talk about playing into the hands of the enemy.

Behaviour like this is just abhorrent.

What is the point in any of it if there is no minimum procedure to make sure that this can't happen?

[rubl]

This government tends to keep everyone in the dark about what they are doing. To wit: they pass their legislation while the people are sleeping.

I think you will find the Dems are also in favour of this bill. After all there are many of them and their families who will make good money from it. Where was your beloved opposition?

Waiting for deliberation to continue the next day as was originally planned?