Connect with us

Politics

Opposition criticises Government for unnecessary borrowing

Maya Taylor

Published

 on 

PHOTO: Thai opposition chief whip Suthin Klangsaeng - Thai PBS World

The Pheu Thai opposition party is calling on the government to look to existing funds first before attempting to borrow a trillion baht from as-yet-unnamed sources. Opposition chief whip Suthin Klangsaeng was participating in the last day of the debate on three government decrees concerning the country’s finances.

A Thai PBS World report says the government is under fire for still not disclosing how it plans to borrow one trillion baht. Opposition parties say the public should be kept informed about such decisions, given that they will be paying the price for such significant borrowing for a long time into the future. Meanwhile the Thai PM Prayut Chan-o-cha has asked the Thai public to trust him and his government to acquire and handle the money with the interests of the Thai people at heart.

The opposition’s Suthin points to neighbouring countries such as Cambodia, Laos and Vietnam as examples of nations that have not had to resort to borrowing huge amounts of money in the wake of the Covid-19 pandemic. He acknowledges that Thai people need help as a result of the significant blow to the country’s economy but insists funds should be allocated from the government’s existing reserves. He says with some reshuffling of existing spending plans, the government could potentially reduce the amount of money it needs to borrow by as much as 15%.

Suthin also questions the government’s motivation in borrowing the money, accusing it of wanting to inject cash into the economy to drive spending, as opposed to compensating the small to medium businesses that have been so severely impacted by the impacts of the Covid-19 lockdowns.

SOURCE: Thai PBS World

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

1 Comment

1 Comment

  1. Avatar

    ken jones

    Monday, June 1, 2020 at 11:12 am

    The un elected goveement has no skin in the game it’s that simple. Tehy are being paid living like elite people. They will borrow all they need for one reason and 1 reason only. To stay in Power. It’s that simple. They will do anythng to appease now the people so there will be no uprising .

Leave a Reply

Your email address will not be published. Required fields are marked *

A seasoned writer, with a degree in Creative Writing. Over ten years' experience in producing blog and magazine articles, news reports and website content.

Follow Thaiger by email:

Singapore24 mins ago

Singapore plans to vaccinate 80%, reopen with quarantine-free travel by September

Thailand2 hours ago

Pattaya suspects arrested for live streaming breaking curfew

Thailand2 hours ago

Sinovac/AstraZeneca highly effective, according to Thai research

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Phuket3 hours ago

Phuket vice governor says “Sandbox” tourists aren’t scared off by Covid situation

Thailand3 hours ago

Ministry of Education seeks 21.6 billion education subsidy

Coronavirus (Covid-19)4 hours ago

The ‘infodemic’ – interview with Helen Petousis-Harris about Covid misinformation

image
Join the conversation on the Thaiger Talk forums today!
Best of5 hours ago

Phuket’s 8 Best Rooftop Bars

Coronavirus (Covid-19)5 hours ago

Ayutthaya logs 255 new infections, hospital beds full

Thailand5 hours ago

Another “monkey war” in Lop Buri, hundreds fight in the street- VIDEO

Thailand6 hours ago

Plantations International provides Pattaya with provisions

Coronavirus (Covid-19)6 hours ago

Monday UPDATE: 15,376 new infections, Provincial report

Thailand7 hours ago

Thai baht goes from top-performing to worst-hit currency in Asia

Coronavirus (Covid-19)7 hours ago

Covid train cancelled, SRT cites lack of passengers

Coronavirus (Covid-19)8 hours ago

Government submits proposal to allow department store restaurants to sell food online

Best of8 hours ago

The Best Nightclubs in Phuket

Thailand5 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism5 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket5 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism5 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand5 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism5 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand6 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand6 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand6 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand6 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand6 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand6 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand7 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand7 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand7 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8

Trending