Pichai eyes new stimulus measures after talks with business leaders
Proposed measures include a co-payment scheme, tax rebates on purchases and the revival of the ‘We Travel Together’ subsidy scheme
Finance Minister Pichai Chunhavajira said on Monday that he would consider the economic stimulus measures raised during a meeting with representatives of three professional groups.
After attending an hourlong meeting with representatives of the Joint Standing Committee on Commerce, Industry and Banking and Prime Minister Paetongtarn Shinawatra at Government House, Pichai said the government needs to consider several factors before deciding on the stimulus measures.
“For instance, we must consider the timeframe and which measure would be most appropriate,” Pichai said.
Sanan Angubolkul, chairman of the Thai Chamber of Commerce (TCC), said the joint committee wanted the government to implement measures that would spur spending by the people during the remaining months to boost growth.
He said these measures might come in the form of tax rebates on products purchased, adding that the joint committee wanted stimulus measures to be implemented as soon as possible.
Early this month, the joint committee along with representatives from the TCC, the Thai Bankers Association and the Federation of Thai Industries proposed three measures for the government to take up in a bid to boost growth, namely:
Co-payment: The government could cover half the cost of a product purchased, like if a person buys an item for 10,000 baht, he or she would only have to pay half the amount
E-receipt: The government could allow taxpayers to provide receipts on purchases to get tax rebates.
We Travel Together: The government could revive the scheme in which it subsidies hotel stays
After the meeting, Pichai, who doubles as deputy PM, told reporters that the government expected the economy to grow by 2.7-2.8% this year after it handed out 10,000 baht to 14.5 million underprivileged and handicapped individuals.
