New cabinet to continue Srettha’s projects, Pheu Thai says
Digital wallet scheme will remain a priority but concerns, both fiscal and technical, will be further studied
The new cabinet under Prime Minister Paetongtarn Shinawatra is still a Pheu Thai-led government and will seamlessly continue ongoing programmes started by former PM Srettha Thavisin, a Pheu Thai Party source said on Monday.
Paetongtarn, who was sworn in as 31st PM on Sunday, called a meeting with party executives and strategy teams at Pheu Thai headquarters on Monday, with Srettha also attending the session.
Srettha last week was removed as PM by the Constitutional Court’s order, citing a lack of integrity after he had appointed an unqualified person to the Cabinet.
The source said the meeting explored the progress of projects that the government under Srettha has carried out in the past year, with focus on flagship campaigns like the digital wallet that aim to stimulate the economy.
The source added that Paetongtarn is working to make sure that the scheme’s framework is within the fiscal discipline, and is considering suggestions made by several parties.
The meeting discussed risks raised by concerned parties over the 450-billion-baht handout scheme, which include:
1. Legal risks: The scheme could violate the Currency Act of 1958, which stipulates that the campaign must have adequate funds to support it when it starts.
2. Fiscal risks: The loans to fund the scheme could drive public debt per GDP ratio to exceed the limit of 70%, as stipulated by the State Fiscal and Financial Disciplines Act of 2018.
3. Risks of corruption.
4. Risks from lack of system’s readiness, as the scheme will use a new payment platform that links with participating banks via the open loop system, which is a complicated technology.
The source added that Pheu Thai is also looking at candidates outside the party to help strengthen its economic team to tackle current economic problems, which are the party’s top priority.
The party also confirmed that a new list of Cabinet ministers will be submitted to the Cabinet Secretariat and Council of State for review on Tuesday.
