PUBLISHED : 10 Nov 2023 at 06:36
The government will announce details of its 10,000-baht digital money handout on Friday as critics continue to slam the scheme, saying it will do more harm than good to the economy.
Prime Minister Srettha Thavisin said he will hold a press conference to spell out the scheme’s details at 2pm on Friday.
He also said other coalition partners have not voiced concerns over the Pheu Thai Party’s digital wallet policy.
Asked if there would be any good news during today’s press conference, the prime minister only said: “I will explain everything all by myself.”
Meanwhile, critics on Thursday took aim at the scheme during a seminar — “The Digital Money Handout: A Disaster or Future for the Country?”.
Somchai Srisutthiyakorn, a former election commissioner, said the government has been pushing for the digital money policy, but many hurdles remain.
“It has ordered state agencies to review budget spending for the 2024 fiscal year to milk them [for money to finance the handout],” Mr Somchai said.
“The government did not study laws related to financial discipline carefully … Even the Government Savings Bank cannot lend money to the government to finance the scheme,” he said.
“During the upcoming press conference, I believe the government will announce its decision to delay the handout, probably until May.”
The launch of the scheme has been touted to be Feb 1.
“It may be the case that the 10,000-baht giveaway could be paid out in four instalments of 2,500 baht rather than a single payment. If so, this will no longer boost the economy,” Mr Somchai said.
Thirachai Phuvanatnaranubala, a former finance minister, told the seminar that any handout scheme designed to achieve political gain would set a dangerous precedent for other political parties in future elections, and it could bring the country to its knees.
Mr Thirachai said the State Fiscal and Financial Disciplines Act prohibits any projects designed to achieve political gain that could cause damage to the country.
Previously, a sub-committee overseeing the implementation of the digital wallet project made several recommendations, including limiting the handout to 15–16 million people who have state welfare cards, which will cost the state 150–160 billion baht.