US needs 819Billion to stimulate the economy
Singapore used 20.5Billion to help the fledging economy
Thailand guns for 5.05Billion.
What can 5.05Billion do when the unemployment rate is so high, retrenchment on high and none of this 5.05billion is actually catered to help the industries?
- cash handouts for low earners,
- tax cuts, education loans, and
- subsidies for transport and utilities, which the government's finance team says will stimulate consumer spending.
I think they are not solving the root of the problem at all and do not know the extend of how serious it is
http://www.straitstimes.com/Breaking+News/Money/Story/STIStory_331762.html
BANGKOK - THAILAND'S parliament early on Thursday passed a US$3.35 billion (S$5.05 billion) stimulus package aimed at boosting the flagging economy after months of street protests and last year's crippling airport seizures.
After 11 hours of debate between the Democrat Party-led government and the opposition, lawmakers voted just after midnight for the 116.7 billion baht (S$5.05 billion) supplementary budget for this fiscal year.
House speaker Chai Chidchob said 238 MPs out of 455 currently sitting in parliament voted in favour of the bill, which now has to go through two more readings before taking effect.
The package is a mixture of cash handouts for low earners, tax cuts, education loans, and subsidies for transport and utilities, which the government's finance team says will stimulate consumer spending.
The Bank of Thailand has forecast economic growth at zero to two percent this year, with the week-long shuttering of Bangkok's two airports by protesters late last year and the global financial crisis taking a toll.
Critics of the stimulus package including ousted prime minister Thaksin Shinawatra have decried the plan as a short-term fix to a long-term problem.
Chalerm Yoobamrung, opposition lawmaker with the Thaksin-linked Puea Thai party, called the 2,000 baht handouts 'advance vote buying' and said the package would not reach all sectors.
'The 16 policies to stimulate the economy - especially the 2,000 baht which will cover 9.2 million people - is advance vote buying. It is not true that other countries use these kind of measures,' he told the house.
Singapore used 20.5Billion to help the fledging economy
Thailand guns for 5.05Billion.
What can 5.05Billion do when the unemployment rate is so high, retrenchment on high and none of this 5.05billion is actually catered to help the industries?
- cash handouts for low earners,
- tax cuts, education loans, and
- subsidies for transport and utilities, which the government's finance team says will stimulate consumer spending.
I think they are not solving the root of the problem at all and do not know the extend of how serious it is
http://www.straitstimes.com/Breaking+News/Money/Story/STIStory_331762.html
BANGKOK - THAILAND'S parliament early on Thursday passed a US$3.35 billion (S$5.05 billion) stimulus package aimed at boosting the flagging economy after months of street protests and last year's crippling airport seizures.
After 11 hours of debate between the Democrat Party-led government and the opposition, lawmakers voted just after midnight for the 116.7 billion baht (S$5.05 billion) supplementary budget for this fiscal year.
House speaker Chai Chidchob said 238 MPs out of 455 currently sitting in parliament voted in favour of the bill, which now has to go through two more readings before taking effect.
The package is a mixture of cash handouts for low earners, tax cuts, education loans, and subsidies for transport and utilities, which the government's finance team says will stimulate consumer spending.
The Bank of Thailand has forecast economic growth at zero to two percent this year, with the week-long shuttering of Bangkok's two airports by protesters late last year and the global financial crisis taking a toll.
Critics of the stimulus package including ousted prime minister Thaksin Shinawatra have decried the plan as a short-term fix to a long-term problem.
Chalerm Yoobamrung, opposition lawmaker with the Thaksin-linked Puea Thai party, called the 2,000 baht handouts 'advance vote buying' and said the package would not reach all sectors.
'The 16 policies to stimulate the economy - especially the 2,000 baht which will cover 9.2 million people - is advance vote buying. It is not true that other countries use these kind of measures,' he told the house.
