Pheu Thai defends ‘nine millionaires a day’ plan, eyes THB200bn VAT revenue

Julapun Amarnvivat, leader of the Pheu Thai Party and a prime ministerial candidate, on Monday (January 26) defended the party’s “nine new millionaires a day” policy—awarding nine people 1 million baht each per day—after it drew widespread criticism.

He insisted the policy is not a “no-strings-attached giveaway”, but rather the “final jigsaw piece” in reshaping Thailand’s economic structure towards high-income status, through the creation of a realistic data infrastructure.

Julapun said the core of the policy is to incentivise people to voluntarily enter the formal economy and the state’s tax system, creating a large database—or big data—that can be used to develop economic policy, welfare programmes and a long-term digital government strategy. 

Pheu Thai, he added, would use “positive incentives” rather than compulsion or punishment.

“This is not cash handouts. It uses hope and the opportunity to become a millionaire as an incentive for people to enter the system. When the data are strong, the state can develop a higher-value economy, deliver welfare more accurately, and sustainably increase national income,” Julapun said.

How the nine daily prizes would work

Julapun explained that the policy would allow Thais to win a “millionaire” prize every day, with nine prizes daily, designed to be linked to state data systems. It would be split into two main groups:

• Draws from receipt numbers or e-receipts (five prizes): People would be eligible simply by requesting a receipt from a shop, with no minimum spending requirement.
   
• Draws from national ID numbers (four prizes): These would be divided among registered farmers, volunteers, people aged 60 and over, and tax filers.

The key goal, Julapun said, is to bring the informal economy—valued at more than 9 trillion baht—into the tax system. If successful, the state could collect at least 200 billion baht more in value-added tax (VAT) each year, while the total project cost would be only around 3 billion baht, making it a worthwhile investment.

Overseas examples and targeted welfare

Julapun said the concept has seen success overseas, citing examples such as Brazil and Taiwan, where tax revenue reportedly rose by as much as 20%.

He stressed that the resulting big data would be used to tackle poverty and allocate welfare more precisely, particularly under the “Thais without poverty” programme, where the state could top up incomes for those below the poverty line by 3,000 baht per month, targeted directly at the intended group.

He added that a comprehensive database is also a cornerstone of digital government and a tool to address corruption, as effective oversight depends on fully connected information systems.

“This is about generating revenue for the state, not spending it, and it is the final jigsaw piece that will help Thailand become a high-income country through genuine science and technology,” Julapun said.

Phrommin says it is not a ‘receipt lottery’

Phrommin Lertsuriyadet, chair of Pheu Thai’s economic committee, said comparisons with “receipt lottery” ideas were misplaced, arguing that the two were fundamentally different. He said Pheu Thai is investing in a national data system, not a short-term measure.

“Many parties talk about how much they will spend. Pheu Thai talks about how to raise revenue—using science, data systems and technology that are connected throughout the process,” he said.

Phrommin added that the universal system would allow people to enter receipt-based draws multiple times per day, strengthening incentives to request receipts and bringing economic activity outside the system “onto the table”.

He said recorded GDP currently stands at about 18–19 trillion baht, while the informal economy is as large as 9 trillion baht. If even half of that could be brought into the system, he said, it would bring enormous benefits to the country.

Not aimed at boosting consumption or household debt

Asked whether the policy could encourage people to overspend in hopes of winning a prize, Julapun said it is not a consumption-stimulus policy. 

People would continue spending as normal, he said, with no pressure to buy more. The objective is to bring existing economic activity into the tax system so the state can increase revenue over the long term.