Facing election rout, ruling party pledges eye-popping cash transfer to farmers
The ruling Palang Pracharath Party, which has sunk to the bottom of political polls, on Wednesday announced a startling new campaign pledge: If it remains in power after the May 14 election it will transfer 30,000 baht into the bank accounts of 8 million farmers nationwide.
The transfer, however, will be a one-off, said Charnkrit Dejvitak, spokesperson for the party’s election strategy committee.
It will cost at least 240 billion baht.
The announcement followed a meeting of the election strategy committee – which is chaired by party leader and deputy prime minister General Prawit Wongsuwan – earlier on Wednesday.
The money will be used by farmers to invest in their farms and improve their living conditions, Charnkrit said.
It will be transferred into farmers’ bank accounts, he said, adding that the new policy had been prudently reviewed by the party’s so-called “economic dream team”.
Charnkrit explained: “The money will be swiftly injected into the economy and will circulate in huge amounts.”
He tried to differentiate the campaign pledge from one made by the opposition Pheu Thai to transfer 10,000 baht into the digital wallets of every Thai 16 years of age or older, saying Palang Pracharath’s cash-transfer pledge targets a specific group.
“It’s not a blanket policy that will affect the financial stability of the country,” he added.
Pheu Thai’s digital-transfer campaign pledge has been criticised as a threat to the country’s financial system, though Pheu Thai members argue that it will stimulate the economy and lead to higher tax revenues.
Charnkrit said the Palang Pracharath Party will seek approval from the Election Commission later today to campaign on its 30,000-baht-per-farmer economic stimulus plan. It will explain to the election watchdog how the pledge will be financed. Thai law requires political parties to explain to the Election Commission how they will fund campaign pledges.
A nationwide poll of 2,000 eligible voters conducted by the National Institute of Development Administration earlier this month found Palang Pracharath’s support was a mere 2%. Its candidate for prime minister, Prawit, failed to make the top 10.
