May 14 General Election Economic policies offered by 8 key parties
The Nation has compiled some key promises eight major political parties have made to boost the country’s economy if elected.
Thailand’s political parties are campaigning for votes and making big promises as the general election draws closer.
Democrat Party
• Price guarantee for crops, including rice, cassava, palm and corn
• Funding for small businesses
• 2 million baht subsidy for community banks
Democrat leader Jurin Laksanawisit said at a press conference in January that the party is placing greater emphasis on nurturing the grassroots economy, especially the agricultural sector, which employs 50% of the Thai population.
Pheu Thai Party
• Raising minimum daily wage to 600 baht and monthly wage to 25,000 baht
• Training families on soft power skills
• Tripling the income of farmers
Dr Prommin Lertsuridej, chief of Pheu Thai’s economic strategy team, said on March 9 that the party’s policies can easily be implemented because they aim to generate revenue instead of engaging in populism.
Thai Sang Thai Party
• Creating a fund for poor people
• Providing a 3,000 baht per month pension to the elderly
• Allowing lottery buyers to recoup their losses at retirement age
The party’s leader Khunying Sudarat Keyuraphan has promised to create a fund to erase the debts of poor people and help people who waste their money on lotteries to recoup their losses from age 60 onwards.
Palang Pracharath Party
• Paying a 700 baht monthly allowance to state welfare cardholders
• Reducing the cost of living by bringing down the price of public transport, cooking gas and fuel
• Providing a monthly allowance of 3,000 to 6,000 baht to people above the age of 60
Palang Pracharath unveiled policies devised by its new economic team on March 15. The team includes former finance minister Thirachai Phuvanatnaranubala.
Bhumjaithai Party
• Providing free solar cells to households
• Offering a 3-year moratorium on debts
• Creating more than 10 million jobs
Party leader Anutin Charnvirakul helped devise these policies as chief of the party’s economics team.
Thai United Nation Party
• Providing a monthly allowance of 1,000 baht to state welfare cardholders
• Providing a monthly allowance of 1,000 baht to the elderly
• Continuing subsidy schemes like “Rao Tiew Duay Kan” (We Travel Together) and "Khon La Khrueng” (co-payment)
Prayut Chan-o-cha, the party's PM candidate, once said that the party operates under the idea of "done, doing and continuing" in a bid to carry on the work he began as premier.
Move Forward Party
• Increasing minimum daily wage to 450 baht
• Creating a fund for Thai filmmakers
• Providing a 1,200 baht allowance to parents of children up to six years of age
Move Forward leader Pita Limjaroenrat declared at a seminar that the party aims to boost economic growth and lower inequality simultaneously.
Chart Pattana Kla Party
• Introducing a “credit sorting” rather than “blacklisting” system
• Building a fund for soft-power-related businesses
• Restructuring oil and gas prices
Party leader Korn Chatikavanij once said it was more productive to remove the “blacklisting” system used by the National Credit Bureau. The “credit sorting” system will instead evaluate each person’s financial status based on relevant information, including utility bills, mobile phone bills and other financial burdens instead of just outstanding debts.
