Democrats' missed opportunities

Korn Chatikavanich rightly points out that the Bt2-trillion loan bill is an end-run around the budget process. He also pointed out the opportunities for corruption in the planned projects, mostly the railways.

Although I will take the Democrats any day over Pheu Thai, unfortunately in Parliament the Democrats said they actually agreed with the spending, which is probably because they know the public generally likes it.

However, the projects seem to be based on the theories that “all infrastructure spending will pay off economically” and “build it and they will come”, since some of the trains are going to places that are not currently economic or population centres.

Yet the US experience with money-losing Amtrak and “bridges to nowhere” implies that there might be over-investment in rail as opposed, for example, to airports.

Also, most upcountry provinces have been neglected, as shown in the FRA exposure of the 56 closed finance companies’ books, with few loans going to businesses outside Bangkok. Wouldn’t it make more sense to invest in convention and commercial centres and industrial estates in the provinces first?

Additionally, if the Democrats agree in principle with the infrastructure projects, why do they never propose any on their own, instead leaving it to the Shinawatras and others to steal their thunder? It’s not like the idea of building high-speed rail links with China is rocket science. This is due to the micro-thinking of the Democrats.

I cannot think of any big project initiated by the Democrats. The BTS and the 3-million-phone-line deals were both approved by General Suchinda Kraprayoon.

On the other hand, Pheu Thai is very hypocritical because the one provably working infrastructure project that the Democrats have supported – the BTS extensions endorsed by MR Sukhumbhand and his predecessor Apirak Kosayopdhin – are facing legal challenges from the government. This is a complete joke considering its claim to need infrastructure investment. It’s as if this power clique cannot leave a crumb on the table for anyone else.

Traditionally, highways were the big “cake” for political parties, but they will look like chicken feed compared to this spending bill.

The Knowledge

Bangkok