Democrat candidate defends her 10 billion baht ‘idea fund’
Democrat Party candidate Watanya Bunnag on Wednesday defended her idea of setting up a fund worth 10 billion baht to finance the implementation of creative ideas, saying the money would not come from the state budget.
Instead, it will be financed by the Universal Service Obligation fund of the National Broadcasting and Telecommunications Commission and taxes on the entertainment industry, Watanya said.
She will be able to defend how the fund will be financed to the Election Commission, she said.
Watanya is the chairwoman of the Democrat’s political innovation committee and wife of Nation Group CEO Shine Bunnag.
The Election Commission recently reminded all political parties that they are obligated by law to explain how they will finance campaign promises.
The fund will be used to develop the skills of university students and for low-interest loans for students with business ideas and companies in the entertainment industry that promote Thailand’s soft power, Watanya said.
Pledges by political parties to inject money into the economy to stimulate growth are good, but the Democrat’s policies will not require the government to increase its budget or borrow money, she said.
Pheu Thai’s pledge to transfer 10,000 baht into digital wallets for every Thai over 16 years of age is an example of a policy that requires a massive budget, while the Democrat’s pledge to spend 1 trillion baht on economic projects will use funds already available without the need to borrow, she said.
Technological development is crucial for the country as the transformation to a digital economy is occurring globally, she said.
