House committee formulates 2024 budget proposal
The House committee responsible for scrutinising planning and monitoring budget expenditure is formulating a budget proposal for next year. The proposal is expected to be reviewed by the House in early January.
Natthapong Ruangpanyawut, the committee’s chair and a list MP of the Move Forward Party, confirmed that the panel is currently processing budget requests from various state agencies. These requests have been reduced to 3.48 trillion baht from an initial 5.8 trillion baht by the Budget Bureau.
The approved spending proposals are expected to be available by December 23, before they are submitted to the cabinet for approval on December 26, said Natthapong.
“We’ll compare notes to determine if the budget allocations respond to the people’s needs.”
The digital wallet scheme, Natthapong added, will not be part of next year’s expenditure budget bill, as the government has already declared it will secure loans to finance this initiative.
Natthapong further revealed that MPs are contemplating making the details of budget allocation requests and those approved by the Budget Bureau public. This will enable them to determine the appropriateness of the cuts before the bill is passed.
Earlier in the week, House Speaker Wan Muhamad Noor Matha announced that the first reading of next year’s budget bill is scheduled for January 3. This information was obtained from the Budget Bureau. Next year’s expenditure budget bill was originally set to be effective from October 1 but was postponed due to the political transition as the new coalition government settles in.
Commenting on the delay in the budget, Natthapong pointed out that while fixed spending can be disbursed, the delay is impacting new investments. He suggested that speeding up the deliberations would be in the best interests of the country.
Regarding the budget proposal for fiscal 2025, Natthapong mentioned that the MPs are considering proposing a spending plan alongside the government’s. His panel will also seek information from state agencies to make recommendations to the Budget Bureau.
Upon reviewing state spending, the committee has identified several issues. Among these is the Department of Rural Roads’ regulations concerning the classification of concession firms. Natthapong noted that these regulations seem to enable price collusion. The committee intends to invite the department to justify these regulations and consider revising them to ensure transparency, reported Bangkok Post.
