Bhumjaithai rolls out “10 Plus” to revive confidence, economy

Unofficial results of the 2026 general election clearly point to the Bhumjaithai Party taking the lead in forming the next government. The party campaigned on its “10 Plus” economic platform, which is set to become the core economic policy of the new administration.

Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, said post-election economic management must proceed simultaneously on three fronts: short-term economic recovery, long-term structural growth, and income distribution to reduce inequality. These pillars form the backbone of the “10 Plus” policy.

To offset potential delays in the 2027 fiscal-year budget, which could be slowed by election certification procedures, the government plans to deploy the Board of Investment (BOI) “Fast Pass” mechanism. This will unlock around 480 billion baht in pending private-sector investment approvals, allowing capital to flow into the economy immediately to support both short-term recovery and long-term growth—without requiring additional budget spending or legal changes.

Ekniti said the investment push can proceed within 2026, ensuring continuity while the current government remains in place. “BOI Fast Pass investment will continue. I am still Deputy Prime Minister for economic affairs and Finance Minister, and I continue to supervise the BOI,” he said.

Budget 2027 delays of 1–2 months manageable

Addressing concerns over possible delays to the 2027 budget, Ekniti said preparations were made before parliament was dissolved. If the new government structure remains largely unchanged, he believes the budget can be rolled out quickly, potentially by November or December 2026. In the interim, the caretaker government will continue existing programmes such as SME Clinic Boost and cooperation with the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) to maintain investor confidence.

“Half-Half Plus” Phase 2 to move ahead

On the closely watched “Half-Half Plus” scheme, Ekniti confirmed it will continue into Phase 2, with added reskilling and upskilling requirements for participating small businesses. Pilot results showed shops that completed training increased monthly revenue from around 10,000 baht to 50,000 baht.

Phase 2 will continue to prioritise small retailers, excluding large businesses to ensure income distribution to provincial areas. Registration will reopen for those who missed out previously, while existing participants will retain eligibility. Funding will come from either the 2026 or 2027 budget, depending on government formation timing.

Finance Ministry ready to execute policy

Lavaron Sangsnit, Permanent Secretary for Finance, said the ministry is ready to implement economic policies that were stalled during the political transition. He confirmed that “Half-Half Plus” Phase 2 remains a key grassroots stimulus tool, having boosted GDP by 0.3% in late 2025. The proposed 44 billion baht budget will be reviewed for adequacy.

TISA and welfare card registration

The Finance Ministry will also continue pushing the Thailand Individual Savings Account (TISA) scheme to expand long-term savings and investment options for retail savers. In addition, preparations are in place to reopen registration for the state welfare card, which can proceed immediately once a new government is formed—or under a caretaker administration if legally permitted.

Bhumjaithai’s “Thailand 10 Plus” economic agenda

1) Inclusive Growth

• People Plus: reduce living costs, including electricity tariffs below 3 baht/unit for the first 200 units; reopen welfare card registration, targeting genuine low-income earners.
• Senior Plus: tax incentives for hiring older workers, double tax deductions (up to 30,000 baht), income-tax relief and nationwide integrated elderly-care centres.
• Community Plus: strengthen local economies to create jobs without migration.
• SME Plus & Business Plus: preferential public procurement, low-interest loans, new credit guarantees, and parallel support for large businesses.

2) Competitive Growth

• Education Plus (Skill Bridge): free education linked to employment, upskilling and reskilling.
• Green Economy Plus: accelerate Net Zero target to 2050, expand clean energy and green finance, carbon-credit markets and sustainability standards.
• Investment Plus: infrastructure investment via the Thailand Future Fund to avoid additional public borrowing.
• Trade Plus: open new markets for green products and expand barter trade.
• Thailand Plus / BOI Fast Pass: streamline approvals to accelerate foreign investment.
• AI Plus: apply AI to data analysis, disaster warning systems and workforce skills.

3) Quick Big Wins

• Half-Half Plus Phase 2 to boost domestic consumption and e-commerce skills, using 30 billion baht in remaining central funds.
• Fast debt resolution for non-performing debts under 100,000 baht, supported by the FIDF and financial literacy programmes.
• Household disaster fund: state-paid premiums (1,000 baht per household) with automatic compensation of 100,000 baht upon verified disasters.
• TISA savings promotion to strengthen retirement security.

4) Targeted industries

Investment will focus on six priority sectors, including future food (such as pet food), data centres and cloud services, smart electronics (PCB) and electric vehicles (EVs) with full supply chains, while accelerating the deployment of 480 billion baht in BOI-approved investments into the real economy as quickly as possible.