PM hints digital wallet handout will differ from Pheu Thai’s poll promise
Paetongtarn attributes changes to delay in developing digital delivery system
Prime Minister Paetongtarn Shinawatra said on Wednesday that the actual implementation of the 10,000-baht handout under the digital wallet scheme would differ from what was promised by the Pheu Thai Party during the 2023 general election.
She said changes to the scheme were necessary as the system to deliver money in digital format needed more time to develop, while the country’s economy and the people could not wait.
The premier added that Deputy PM and Finance Minister Pichai Chunhavajira would take the lead in explaining the details of the campaign to Parliament during her policy statement on Thursday and Friday.
The PM hinted that among the latest changes would be distribution of the money in phases instead of a one-time payment.
Paetongtarn dismissed the remark of an opposition politician that the handout scheme would fail to create ”an economic tornado” as promised by Pheu Thai, but instead cause a small “depression”.
“Changes to the scheme will not affect the results to the economy that we target,” she said. “I insist that we do not have only one economic stimulus policy. This scheme will be implemented along with other policies that target pushing the economy forward.”
Paetongtarn said the government would do its best to fully explain its policies at Thursday's parliamentary session. She added that although the opposition had reserved some time slots for debate after the policy statement, she intended to shift the focus to flood relief measures.
The digital wallet handout, a flagship policy of the ruling Pheu Thai Party, originally planned to deliver 10,000 baht in digital money to all Thais aged over 16 to spend at local businesses to boost domestic spending and jump-start the stagnant economy. The money was expected to be disbursed via an online “super app” platform in a bid to pave the way for development of the digital economy.
The scheme has undergone several changes since its announcement, such as adding earning criteria, limiting it to those who earn no more than 840,000 baht per tax year and having no more than 500,000 baht in their bank accounts.
The government also has been struggling to find funds to finance the scheme, in contrast to its election promise that the scheme will be funded mostly by tax revenue. So far, parts of the fiscal budget for 2024 and 2025 have been earmarked for the scheme, including loans under the Additional Expenditure Act and from the Bank for Agriculture and Agricultural Cooperatives.
