Deputy Finance Minister Julapun Amornvivat has conceded that the government’s 10,000-baht handout programme needs some adjustment, including giving cash instead of digital money to some recipients.
Numerous petitions lodged against the government’s flagship policy were partly to blame for the need for certain changes, he said on Wednesday.
Other changes are being adopted in response to the many useful opinions offered for improving the programme, he said.
The original policy called for 10,000 baht in digital money to be given to as many as 50 million eligible Thais over age 16. Many economists said the 500-billion-baht programme would not deliver the economic lift envisioned by the Pheu Thai-led government.
But now, the new Paetongtarn Shinawatra administration has to make adjustments to avoid the risk of encountering some of the problems warned about by a state organisations, economists and the opposition, said Mr Julapun.
“I have to admit that some changes are needed, including handing out cash [to vulnerable groups],” he said. “As for what the final details will look like, we still have to discuss that further with all the other coalition parties.”
For now, it appears likely that money will be distributed this month to about 15 million state welfare cardholders. It would take the form of cash as some of the intended recipients lack familiarity with digital technology or do not have smartphones.
When the new fiscal year begins on Oct 1, the government will decide whether and how to continue the handouts to another 35 million people.
Those who have already registered via the government’s Thang Rath app need not worry about any adjustment as the digital wallet will definitely continue, said Mr Julapun.
Another important objective of the programme is to build a new digital economy infrastructure for Thailand, in addition to injecting money into the economic system, he said.
Mr Julapun stopped short of clarifying what other possible changes were being considered, saying details would be revealed when the new government presents its policy statement in parliament later this month.
All he could say was that the rest of the budget earmarked for financing the digital wallet — 122 billion baht from fiscal 2024 and more from the 2025 budget, now being scrutinised in the Lower House — would be spent strictly on economic stimulus purposes.
The expected impact of the stimulus has been widely debated, with some critics saying it would be limited despite the high cost. Mr Julapun said he expected to see both positive and negative effects of any adjustment.
“Here in Thailand we have so many petitioners whose petitions have become an obstacle to the government in its work to improve the economy and people’s well-being,” he said.
“These petitions have also shattered the country’s consumer confidence and the confidence of investors.”
