Thailand not in a big enough crisis to warrant huge loan for handout: NACC
The National Anti-Corruption Commission (NACC) has finally come up with an opinion on the government’s 10,000-baht digital wallet scheme, questioning its transparency and necessity in the current economic climate.
Apart from listing the pain points of the scheme, the watchdog also called on the Election Commission (EC) to look into the discrepancies between the Pheu Thai Party’s initial policy proposal and its eventual presentation before Parliament in September. NACC asked if this would set a precedent on whether political parties can change their policies after the election.
In a press conference on Wednesday, NACC secretary general Niwatchai Kasemmongkol urged the government to reconsider certain aspects of the digital wallet scheme to reduce legal risks and potential loopholes for corruption. The commission also recommended that the government further refine the target group of those eligible.
NACC also urged the government to ensure the scheme does not disproportionately benefit any particular party or organisation.
Citing economic data from the World Bank and International Monetary Fund (IMF) showing that the Thai economy is merely suffering a slowdown, NACC also queried the government’s claim of a “crisis”.
The commission questioned the scheme’s sustainability in the long run, saying financing it with a massive loan would result in four to five years of repayment.
Separately, The Nation’s sister newspaper Krungthep Thurakij reported that Prime Minister Srettha Thavisin welcomed the recommendations on reducing legal risks, but said the NACC does not have jurisdiction over what the government does with its finances.
The digital wallet scheme has been the Pheu Thai party’s flagship policy since it began campaigning for votes ahead of the May 14 elections last year. The coalition government led by Pheu Thai has said all along that the scheme will help stimulate the economy and bring in more tax revenue. It hopes to use the extra earnings to create better welfare programs.
The scheme was initially supposed to be financed by “burning fat” off bloated government agencies, but after becoming coalition leader, Pheu Thai shifted its focus and decided to finance it by enacting a 500-billion-baht loan bill.
According to the Constitution, a loan bill can only be considered if the country is in urgent need or is undergoing an economic crisis.
Critics, meanwhile, have questioned the government’s definition of an “economic crisis” and the legality of passing such a bill.
