BANGKOK: Thailand’s cabinet on Tuesday ( Dec 24 ) approved new minimum wage increases from January, tax breaks to boost spending and the second phase the government’s signature handout scheme, the prime minister said.
Paetongtarn Shinawatra added that she hoped for more than 3 % economic growth in the upcoming season.
To help boost the economy, the government has stated that it wants to increase the daily minimum wage to 400 baht ( US$ 11.72 ) across the country.
However, the wage committee on Monday decided to raise the daily minimum wage by 2.9 per cent to between 337 baht and 400 baht ( US$ 9.9 to US$ 11.7 ), varying in each region, effective Jan 1.
The top end of that selection will apply only to the regions of Phuket, Chachoengsao, Chon Buri and Rayong, and the trip island of Samui.
Paetongtarn said the government even approved tax cuts to increase use, but gave no information.
According to deputy finance minister Julapun Amornvivat, the government will provide a tax exemption of up to 50 000 ringgit based on actual investing, but not domestic travel. The tax cuts will be implemented between January 16 and February 28, he added.
The cabinet approved the second phase of the 40 billion baht handout program for four million older people who do acquire payments by January, according to the prime minister.
The first step of the unique US$ 14 billion program was launched in September, with about 14.5 million persons having so much received obligations of 10, 000 ringgit each. The government intends to deliver the handouts to roughly 45 million persons overall.