How Pheu Thai aims to woo the public through its economic strategy

The ruling Pheu Thai appears to have come up with a strategy of party leader Paetongtarn Shinawatra working alongside her father and former prime minister Thaksin Shinawatra to create momentum and accumulate political capital in the run-up to the 2027 general election.

Another key strategy involves Prime Minister Srettha Thavisin and his economic team addressing the economic downturn. Their goal is to create tangible results to showcase during the campaign, demonstrating the Pheu Thai government’s ability to improve the lives of Thai people, making them "well-fed, dignified, and respected".

Srettha and government officials appear to be confident that the Constitutional Court’s verdict in the disqualification case against him will not lead to his removal from office. 

If Srettha survives the charter court’s ruling, both the government and the PM are confident in their ability to govern for a full four-year term with the current coalition. Rushing into an election now would be disadvantageous, as the party is not yet strong enough to compete with the "Orange Party" surge.

Thus, creating economic results is a major focus for the Pheu Thai Party, aligning with its motto, "Think Big " and " Can Do". 

Recently, the government detailed the registration process for the 10,000-baht digital wallet handout scheme, with spending starting in the fourth quarter of 2024.

The Pheu Thai Party hopes this initiative will show concrete results after being delayed for a year. The 10,000-baht handout is a key policy under their campaign slogan "Increase Income, Reduce Expenses, Expand Opportunities".

The digital wallet scheme is a critical tool to address Thailand's urgent economic issues, with the government pushing through opposition to extend opportunities to all citizens over 16 years old with annual income under 840,000 baht, in order to stimulate the economy and build a digital economic base.

Thailand's economic slump has persisted for years, with investment levels below potential for over a decade. The Covid-19 crisis exacerbated these issues, slowing recovery compared to other ASEAN countries.

The Pheu Thai Party plans to use its stint in government to tackle economic problems and leverage MPs to explain these efforts to the public strategically. 

The first strategy involves the Pheu Thai Party's ideas, the second is the execution by the Srettha government, and the third stage involves MPs communicating with the public.

The economic strategy includes six key points to increase income: proactive foreign policy, raising agricultural prices, promoting tourism, accelerating investment, increasing income through wage and salary hikes, and promoting soft power.

The strategy to “reduce expenses” has four key points: reduce energy costs, suspend farmers’ debt, resolve public debt, and combat online crime.

The "expand opportunities" strategy includes eleven points: implementing the digital wallet initiative, enhancing healthcare services, tackling drug issues, resolving water supply issues, accelerating land title issuance, addressing the PM2.5 crisis, passing crucial laws, gradually reducing military size, improving transportation, responding to crises to boost confidence, and introducing a retirement lottery to encourage voluntary savings.

The "retirement lottery" is another significant "populist" initiative, expected to start in early 2025, allowing citizens to save legally with a chance to win prizes.

These 21 key initiatives aim to "increase income, reduce expenses, and expand opportunities", addressing the economic crisis through proactive policies, with MPs supporting these efforts on the ground.

If Pheu Thai succeeds in most of these initiatives, it will solidify its achievements for the next election. However, if the party fails to deliver, the promises might return to haunt, making it harder to regain a leading position.