Digital wallet woes: PM Srettha quizzed in Parliament by MFP

Prime Minister Srettha Thavisin faced intense scrutiny in Parliament yesterday over the government’s digital wallet handout scheme, marking his first significant confrontation with the opposition since taking office.

Deputy leader of the main opposition Move Forward Party, Sirikanya Tansakul, challenged the 62 year old PM on the digital wallet programme and the government’s economic strategy. She acknowledged the PM’s presence in Parliament and expressed hope for continued engagement.

“I would like to thank the prime minister for showing up in Parliament and recognising its importance…this is the first time the prime minister has come to answer questions from the opposition, and [I hope] it will not be the last.”

Sirikanya criticised the government for reducing the number of recipients eligible for the 10,000-baht digital money bonus from 50 million to 45 million, which lowers the required funding from 500 billion to 450 billion baht.

“Several people are wondering what is happening to the scheme. The criteria and details change all the time. Does this mean the government cannot find enough funding for the scheme?”

The Bangkok-born PM responded by emphasising his commitment to parliamentary accountability and addressing opposition concerns. He explained that the government would use data from previous welfare programmes to estimate the number of potential registrants, ensuring accurate funding allocation.

Budget scrutiny

“We have considered the matter carefully to ensure the handout scheme is in line with rules on budget spending.”

He also noted that the programme aims to stimulate economic growth in provinces with lower economic activity, rather than focusing on major provinces and cities. Detailed information about the scheme will be released on July 24.

The initial plan was to distribute 10,000 baht to each of the 50 million Thai citizens over the age of 16. Eligibility criteria include earning less than 70,000 baht per month or 840,000 baht per year, and recipients can only spend the money within the districts listed on their ID cards.

Deputy Finance Minister Julapun Amornvivat, who chairs the sub-committee overseeing the programme, revealed on July 10 that the sub-committee proposed setting aside only 80% to 90% of the overall 500-billion-baht budget.

This decision followed a study by the Fiscal Policy Office (FPO), which found that not all eligible individuals registered for previous welfare schemes.

According to Julapan, these adjustments would eliminate the need for loans from the Bank for Agriculture and Agricultural Cooperatives (BAAC), as previously planned.

Funding for the project will be sourced from the 2024 and 2025 fiscal budgets. The 2024 budget includes 122 billion baht earmarked for the digital wallet scheme, with an additional 43 billion baht expected to come from budgets not disbursed in time.

In the 2025 fiscal budget, 152 billion baht is allocated for the scheme, with 132 billion baht to be diverted from unused funds this fiscal year, reported Bangkok Post.