PM believes coalition will support funding of digital wallet

In an interview yesterday (November 12) in San Francisco where he is attending the APEC meeting, the PM made the point that society includes people with different opinions and support and stressed the importance of providing clear information. He expressed the desire for Thai society including opposing factions, the government, and the opposition, to avoid division and engage in discussions about the benefits and drawbacks of the project.

When asked about the possibility that the project might not materialise and may not pass through the parliament, leading to the public not receiving the funds, Srettha stated: “I am confident that my coalition government has 320 votes. I believe my votes are stable, and we work as a team. I am confident it will pass.” When asked again if the Thai people would have the opportunity to receive the 10,000 baht, he reiterated his confidence, stating that the government leader must listen to the people. “The delay in the project announcement is because the team needs to consider all opinions, including discussions and objections about such issues as the proposed law to define the rich and the debate about income limits.”

Srettha stressed that the policy is sound, appropriate, and unrelated to technical or legal matters. The government confirms that everything is done correctly, and the committee will provide positive feedback. The only concern is whether the country is currently in a crisis that requires action. If there is a crisis and a necessity to act, it would be done; otherwise, if there is no crisis, it may not be necessary. Srettha highlighted the economic growth challenges faced by Thailand compared to other countries in the region.

He believes that the country needs stimulation and investment, and the government is confident of the necessity of the proposed project, despite differing opinions.

The news reporter asked whether some Pheu Thai voters would feel disappointed for not meeting the criteria to receive the money, as they have savings exceeding 500,000 baht, amassed through disciplined saving, yet have an income of less than 70,000 baht. Srettha responded that he understands and sympathises, but stresses the need to listen to all perspectives. Both the National Economic and Social Development Council and the Bank of Thailand have made it clear that the handouts should not be distributed to the wealthy and have enquired about defining the criteria for the wealthy.

The government has introduced the “e-refund” project (a tax refund programme that offers rebates on personal income tax) for the well-to-do, under which by shopping for goods up to a certain value, individuals can receive a refund of approximately 10,000 baht, equivalent to the Digital Wallet project that the team has proposed. This includes long-term projects in the fund to promote competition in new industries, such as electric vehicles and microchips, with a budget of 100 billion baht, starting in June 2024.