Cabinet approves five Finance to improve business sentiment
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THE CABINET Tuesday approved the Finance Ministry's five proposals to boost business sentiment, accelerate the government's venture-capital scheme, help low-income earners buy their first home and rev up the economy in the near term.
“These measures should benefit businesses and the economy,” said Somkid Jatusripitak, the deputy prime minister in charge of economic affairs.
Real estate is a huge industry with a high multiplier effect on the economy through many other business activities, he said.
“We introduced such measures back in 1997 [during the Asian financial crisis]. The measures back then involved a tax measure that was specifically for one business, but the recently introduced measures only involve the demand side and the low-income home-buyer by helping to lower their financial burden in terms of transfer and mortgage fees.”
