Bt15 billion spent after govt’s tax-incentive plan
THE government estimates that more than Bt15 billion was spent in the last week of 2015, with a sudden rush of money outlaid on certain products and services because of a tax deduction.
Government spokesman Maj-General Sansern Kaewkamnerd said the estimate was based on an assumption that at least 50 per cent of the two million income earners who pay tax went out shopping during the period from December 25 to 31.
“That means more than Bt15 billion was spent in just a week. This measure is considered a success. It covers a large variety of products and services,” he said.
The spokesman said the government was satisfied with the result of the measure, which was aimed at stimulating the economy towards the year-end. “We found that malls were crowded with shoppers, and numerous orders were made for goods and services,” he added.
Sansern said the government’s economic team would come up with more similar stimulus |measures. He suggested that businesses should be properly registered in the tax system so they can benefit from such measures in the future.
The government spokesman also shrugged off criticism by Pheu Thai Party of the government’s handling of economic problems. He said the government was not concerned over a forecast by a Pheu Thai politician that the Thai economy would worsen this year.
“That view did not take into account all the relevant factors. Also, it went against predictions by leading organisations such as the Chamber of Commerce, financial institutions and other local and foreign economic-related agencies. They all agreed that the Thai economy would go up in 2016,” he said.
Sansern said the government would invest more on large utility projects in order to boost government spending. Also, the economic team would implement more and more economic stimulus measures that “are beyond expectation”. He said economic growth in 2016 would be as targeted.
Pheu Thai’s Pichai Naripthapan, a former energy minister, had said that the ailing global economy would continue to affect the Thai economy, with 2016 shaping as a more difficult year than 2015.
Sansern said yesterday there were biased people who say bad things about the government due to political motives.
RELATED