Former red-shirt leader Jatuporn Prompan is calling for a protest next month to oppose a number of government initiatives, such as increasing the cap on foreign ownership in condominiums to 75% and 99-year land leases for foreigners, which he said would benefit only the country's elite.
In a Facebook post on Monday, Mr Jatuporn urged the public to cease becoming "political victims" and protest against Prime Minister Srettha Thavisin's initiatives.
He accused the government of hiding a secret agenda that would hugely benefit specific groups in their efforts to accumulate funds for the next election.
"The prime minister was a real estate developer," said Mr Jatuporn in the Facebook post.
"If his plans get implemented without any opposition, Thailand will lose its independence because condominiums in Thailand could be entirely owned by foreigners -- 75% through legal ownership and 25% through nominees," Mr Jatuporn said.
He added that extending the maximum land lease terms from 30 years to 99 years would effectively enable foreigners "to establish colonies" in Thailand.
The foreign condominium ownership scheme is worth 4 trillion baht, according to him.
Mr Jatuporn also mentioned other projects by the government that require astronomical amounts of investment -- totalling trillions of baht -- including the digital wallet scheme, the southern Land Bridge megaproject and a casino complex development.
He singled out the digital wallet scheme, which would see a one-time 10,000-baht cash bonus given to eligible citizens, saying the difference between the project's budget request and actual spending could be as high as 400 billion baht.
Thai Sang Thai Party leader Khunying Sudarat Keyuraphan also voiced her opposition to proposed changes to the condominium ownership quota and land lease terms, saying the government should focus on helping Thai citizens.
"People are losing their homes," she said. "This is an urgent matter that the government must address immediately."