Pheu Thai vows to boost GDP

Pheu Thai vows to boost GDP

The Pheu Thai Party is pledging to boost the nation's gross domestic product (GDP) growth to 5% if it wins the mandate to form a government after the next election.

Adviser to the head of the "Pheu Thai Family", Srettha Thavisin, and the head of Pheu Thai's economic committee, Prommin Lertsuriyadej, met with representatives of the Thai Chamber of Commerce (TCC) and the Board of Trade of Thailand on Tuesday to discuss the party's economic and fiscal policies.

After the meeting, Mr Srettha said the party would stick with economic approaches which had brought them success in past polls, such as cash handout programmes.

In addition, the opposition party is planning to roll out a digital wallet for Thais aged over 16 years old, through which eligible citizens can access state subsidies and allowances which could be spent on certain goods and services, such as agricultural equipment.

The party will also come up with a set of policies geared to increase farmers' incomes, promote the use of organic fertilisers and improve irrigation across the nation's farmlands, he said.

Dr Prommin also said the party would introduce a 20% tax on private companies' profits in an effort to increase the public's purchasing power and help fund stimulus programmes when the country faces an economic slowdown due to global conflicts.

He said the party plans to address the nation's economic problems by focusing on free trade agreements, increasing the daily minimum wage to 600 baht, raising the minimum monthly salary for bachelor's degree holders to 25,000 baht, boosting tourism income to 3 trillion baht, and improving farmers' welfare.

TCC chairman Sanan Angubolkul hailed the party's programmes, saying they will help ensure the country's economic stability.

Also on Tuesday, Mr Srettha, along with Pheu Thai leader Cholnan Srikaew and head of the Pheu Thai Family, Paetongtarn Shinawatra, visited Bangkok City Pillar Shrine after the House of Representatives was formally dissolved on Monday.

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