Ministry considering third round of the Chim Shop Chai stimulus packages

Deputy PM Somkid Jatusripitak is praising the Chim Shop Chai (Eat Shop Spend) scheme and has told the Finance Ministry to consider launching a third round before the end of the year.

In a policy speech, he defended the scheme, saying it’s neither wasteful nor a populist policy, fending off accusations by critics. He insists the program has been successful in promoting domestic tourism, encouraging locals to travel and spend. He says it was never intended to benefit big business.

Somkid says he’d like the Finance Ministry to assess the results of the first and second rounds and consider launching a third round.

Finance Minister Uttama Savanayana says he’ll need no more than a month to make adjustments to the scheme before seeking Cabinet approval. He says that without the program, Thailand’s growth might be less than the government’s 2.8% forecast – a forecast whittled down over the year from an earlier projection of 4.5% GDP growth in 2019.

Uttama says he’s told the Revenue Department to reassure businesses that the government won’t be auditing them or demanding higher taxes, and will add accident and health insurance for welfare card holders to improve the lives of low income earners.

The welfare card scheme costs taxpayers about 50 billion baht a year. To be eligible for the insurance, around 14.5 million card holders must re-register under the new regulations.

SOURCE: Thai PBS World

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