Senators question constitutionality of the Bt1.14 trillion decree
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A group of 68 senators on Tuesday filed a petition seeking a judicial review on the constitutionality of a financial decree to transfer Bt1.14 trillion debt from the government to the Bank of Thailand.
The senatorial petition followed an earlier move by the opposition Democrat Party questioning the constitutionality of this decree and another on the Bt350 billion loans for flood control.
The senators, led by Khamnoon Sitthisaman, said the Bt1.14 trillion decree might be not be constitutional because the government cited a false urgency to justify the decree when the actual situation was not dire.
Khamnoon said even former finance minister Thirachai Phuvanatnaranubala had conceded that the government’s fiscal position was strong enough for additional borrowing without having to window dress the state’s financial account.
Many see the decree as an attempt to manipulate the accounting rules in order to deflate the public debt, hence allowing the government to take out more loans.
Democrat Party leader Abhisit Vejjajiva said he expected the Constitution Court to hand down its ruling within a month. The government is obliged to put the two decrees on hold pending the judicial decision.
