Fourth phase of stimulus on the cards

Fourth phase of stimulus on the cards

Another phase of the Taste-Shop-Spend stimulus scheme will come after the third phase ends this month. (Photo by Pornprom Satrabhaya)
Another phase of the Taste-Shop-Spend stimulus scheme will come after the third phase ends this month. (Photo by Pornprom Satrabhaya)

Finance Minister Uttama Savanayana has instructed the Fiscal Policy Office (FPO) to study a fourth phase of the Taste-Shop-Spend stimulus scheme.

If budget to finance the scheme is left over, the new phase should be rolled out after the third phase lapses at the end of this month, Mr Uttama said.

When the new phase will begin will be determined by the Finance Ministry, he said.

“The project is aimed at stimulating domestic spending, but which format will be used must be considered,” the finance minister said.

The scheme is part of the government’s 316-billion-baht stimulus package aimed at triggering a spending spree and maintaining economic momentum amid the global economic slowdown, weak private investment and a delay in the government’s budget spending for fiscal 2020.

Under the scheme, recipients receive 15% cash back for spending of up to 30,000 baht at participating merchants. The rebate rises to 20% for more than 30,000 to 50,000 baht spent, with up to 8,500 baht available in cash back.

Recipients of the first two phases were also subject to a 1,000-baht cash handout to spend at participating merchanats outside their home provinces. Those who are the third phase’s recipients are entitled to cashback for buying tour packages, air tickets and lodging for domestic travel.


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