5-9-2023 (BANGKOK) The policy agenda of the newly approved cabinet led by Prime Minister Srettha Thavisin can be succinctly summarized in seven key points, as revealed by a source within the Pheu Thai Party on Tuesday (Sept 5).
Prime Minister Srettha is currently finalizing a comprehensive policy statement that is scheduled to be presented to Parliament on Friday. The cabinet under Srettha, which is part of the Pheu Thai-led coalition, has received the endorsement of His Majesty the King and was officially published in the Royal Gazette last Saturday.
According to the insider, the details of the policy are outlined as follows:
Stimulation: The new government aims to stimulate the domestic economy through the introduction of a digital wallet scheme. Under this initiative, 10,000 baht worth of digital money will be allocated to all Thai citizens aged over 16. The allocated funds must be spent at local businesses located within a 4km radius of the citizen’s registered address within a six-month period. The estimated budget for this project is approximately 560 billion baht. The scheme has the potential to increase its value sixfold to 3 trillion baht. It is scheduled to commence on January 1, 2024.
Speeding up: The government will expedite the implementation of three key issues:
- Amendment of the constitution, with a specific focus on preserving the constitutional monarchy by establishing a publicly elected constituent assembly.
- Implementation of a debt moratorium for up to three years for farmers and one year for businesses adversely affected by the Covid-19 pandemic.
- Reduction of energy prices and the cost of living.
Creation: The policy includes the creation of revenue streams in high-potential industries such as tourism, achieved through the provision of free visas, enhanced airport operations, and improved flight management. Other initiatives falling within this category include raising the minimum wage to 600 baht and establishing a minimum salary of 25,000 baht for Bachelor’s degree graduates.
Additional elements encompass the creation of career opportunities to reduce economic disparities. This includes providing land title deeds to farmers, promoting tree planting for carbon credit trading, reducing the costs and burdens faced by SMEs, and fostering a soft-power economy.
Moreover, the policy is committed to enhancing the quality of life for all Thai citizens. This includes addressing the issue of drug abuse by treating addicts as patients, confiscating assets of drug producers and dealers, improving the national healthcare scheme, and discontinuing mandatory military conscription.
