Govt flood loans get nod

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Judges also clear way for FIDF debt transfer

Published: 23/02/2012 at 08:32 AM
Newspaper section: News

The Constitution Court yesterday cleared the way for the Pheu Thai-led government to go ahead with its multi-billion-baht post-flood spending plans that are designed to strengthen investors' confidence.

Nine judges voted unanimously that an executive decree allowing the government to borrow 350 billion baht to fund water management and flood rehabilitation projects was not against the charter.

"The decree is drafted to alleviate damages, especially those incurred by industrial estates where 841 factories are located. Without preventive measures, investors may seek to relocate production bases," read the verdict.

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Eric
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Discussion 7 : 23/02/2012 at 04:16 PM7
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So far, nothing has been heard from the DP about the budget deficit of about 400B that will be spent this and next year. I will surmised that the purpose of forwarding for constitution court judgement was purely academic and to win a war of words.
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dao
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Discussion 6 : 23/02/2012 at 03:02 PM6
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I think the emphasis wasn't on whether the funds were needed in a emergency or not .It was the fact that there was no account for what the funds were being wasted on .
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democrazy
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Discussion 5 : 23/02/2012 at 01:19 PM5
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Calculate and start thinking.
Yesterday, the cabinet has agreed to extend the exemption of diesel from excise tax for another month. This gov. said before: "cut of the excise tax on diesel caused a loss of 9 billion baht per month in revenue".
This is about 100 billion baht in 1 year. The gov. only has to collect their taxes and then they don't have to borrow 350 billion baht
In 2004, the Oil Fund plunged into a massive debt of nearly 100 billion baht because of a one-year fuel subsidy by the Thaksin Shinawatra government. The fund only cleared its debt in 2006 through imposing high fuel levies.
This was done by the gov. after the coup.
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peterl
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Discussion 4 : 23/02/2012 at 11:59 AM4
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I think this is very good news. Hopefully, all concerned can now move forward with what is clearly very important work.
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hillfarang
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Discussion 3 : 23/02/2012 at 10:48 AM3
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Victor (D 1) I agree... Thailand must not get distracted by only focusing upon "headline" stories at the expense of the issues that really impact people's lives.
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spiceman
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Discussion 2 : 23/02/2012 at 10:31 AM2
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With the same disastrous AG Minister left in charge of water management, all bets are off even with these 2 decrees!
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Victor
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Discussion 1 : 23/02/2012 at 08:04 AM1
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Now is the time for the Democrat to move on. Hopefully they will pick on something more concrete to drill the government, and not rely on immature reaction just for the sake of trying to get even with their polical enemies.
Since national security and safety is always at the heart of all citizen may I suggest that they grill the government for their inaction concerning the alarmingly high number of casualties (14000 road deaths) on our raods EVERY YEAR?
This figure may not get much attention from either side, but if multiply by 7.5 million bahts used by the present government for each political casualties, then it will amount to over 100000 million bahts per year.
But, then, the Democrat didn't do much about this either when they're in power, did they?
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Govt flood loans get nod | Bangkok Post: news