According to PM, “revisions” are necessary because of taxes.
According to Prime Minister Paetongtarn Shinawatra, the influence of US President Donald Trump’s tax policies on the world economy will need some adjustments as the government’s premier money handout scheme moves forward.
” We must take into account the changing global economic situation, as we must at this point, [the parties involved ] are still being circulated,” she said after Tuesday’s weekly cabinet meeting.
The prime minister continued,” The state may listen to the National Economic and Social Development Council and the Bank of Thailand, for instance.”
The government had previously moved forward with this job in order to stimulate the economy, but now that adjacent factors have been involved, it must first reevaluate the intended result, she said.
Even though the government has the authority to deal with it, the PM said,” In the end, whether this project will get delayed or no today depends also on the ideas of relevant companies.”
She emphasized that no adjustments have been made to this one.
According to Ms. Paetongtarn, the government may gather agency comments on the need for more monetary stimulus and how the remaining 150 billion baht could be used to bring the country’s highest benefit, adding that this is the government’s top priority.
When pressed to verify whether the government actually intends to carry out the project, she once again stated that the thoughts of some organizations may be sought out first.
She said the cabinet’s recommendation to move forward with the second step, which was scheduled to be presented and approved on Tuesday, has been postponed until a later time.
The government still has 157 billion baht to fund the third and final phase of the program, a local economic stimulus program, in which around 2.7 million Thais between the ages of 16 and 20 may receive 10, 000 baht each in online currency to help stimulate the economy.
If the government decides to continue, about 27 billion ringgit of the remaining money will be spent, the source said.
The cabinet’s judgement on Tuesday came despite assurances from Deputy Finance Minister Julapun Amornvivat last week that it would not.
According to a source quoted by Isra News Agency, one of the reasons the government is considering phasing out stage three is because the past two stages hardly produced any considerable results.
The remaining 150 billion baht may then probably be diverted to another stimulus initiatives that would be more effective at reducing Mr. Trump’s tariff policies, according to the source.
The president’s investment in improving the water management system would probably receive 100 billion ringgit, the supply added, and the remaining 100 billion may come toward assisting those who lost their jobs as a result of the tariff press.
The Pheu Thai Party-led alliance has provided 185 billion baht to support the structure, which gave 14.5 million people 10 000 ringgit in cash.
Government spending may be thoroughly monitored while the effects of the tax laws is being assessed, according to fund permanent secretary Lavaron Sangsnit.