\nProposal to add minimum spending conditions<\/p>\n
When comparing the Let\u2019s Go Halves scheme with digital cash handout, it is observed that giving 10,000 baht per person may result in significant leakage of funds and may not sufficiently reach grassroots communities, as much of the money could be spent on imported goods. In contrast, the Let\u2019s Go Halves scheme has mechanisms that limit spending to small local businesses, providing clearer support to local merchants.<\/p>\n
Moreover, adjusting the conditions to improve effectiveness is suggested. Past studies of the Let\u2019s Go Halves programme indicate a marginal propensity to consume (MPC) of 0.4, meaning that for every 1 baht given by the government, people spend only 40 satang. This is relatively low compared with China\u2019s programme, which had an MPC of up to 3.0. The Chinese approach used minimum spending conditions and coupon expiry dates to encourage faster consumer spending.<\/p>\n
Therefore, the new government should review and refine the conditions of the Let\u2019s Go Halves scheme, for example:<\/p>\n
\n\tIntroduce minimum spending requirements, such as requiring a minimum of 100 baht per transaction to qualify for the discount.
\n\tSet expiry dates for discounts, to stimulate prompt consumer spending.
<\/p>\n
\nGovernment must define clear objectives<\/p>\n
Athiphat stated that the government needs to ask itself what the Let\u2019s Go Halves scheme is meant to achieve most effectively, for instance:<\/p>\n
\n\tSupporting small merchants \u2013 if this is the primary goal, the original conditions that focus on small, unregistered businesses remain a strength and should be maintained.
\n\tStimulating consumption \u2013 if this is the target, the government should adjust spending conditions to enhance effectiveness and communicate these changes clearly to the public.
<\/p>\n
Athiphat added:<\/p>\n
“Maintaining fiscal stability is crucial, and the government must prioritise this and communicate seriously with international stakeholders to build confidence and avoid another credit rating downgrade.”<\/p>\n
\nExperts call for higher spending limits <\/p>\n
Uppatham Nisitsuksacharoen, President of the Business of Creative and Event Management Association, said that following the formation of the new government, the business sector is keen to see measures that stimulate the economy, particularly the revival of Let\u2019s Go Halves scheme.<\/p>\n
He noted that this is the only effective way to support Thailand\u2019s struggling economy, but stressed that spending limits should be slightly increased. The programme should be implemented quickly and cover a wide range of businesses, not just restaurants, extending to tourism, hotels, and other sectors.<\/p>\n
Milin Veeraratnaroj, Chairman and Managing Director of Tang Ngee Soon Superstore, a major wholesale and retail operator in Udon Thani, echoed support for reviving the scheme, calling it a proven economic tool from the previous government of Gen Prayut Chan-o-cha that is well-designed and should retain the existing \u201cPao Tang\u201d app rather than switching to a new app.<\/p>\n
He added that the scheme has been shown to generate immediate circulation of money in the economy and has a direct impact on the grassroots economy.<\/p>\n
\u201cLet\u2019s Go Halves should be implemented as quickly as possible. If the government acts now, it will win public support. It\u2019s like the new Prime Minister\u2019s announcement about the coming month\u2014people get excited. If we liken the economy to a sick person, consumers\u2019 purchasing power is like someone with a headache. The programme is like paracetamol\u2014it doesn\u2019t cure the illness, but it alleviates the symptoms,\u201d Milin said.<\/p>\n
\nMaking the programme more inclusive<\/p>\n
Kitti Satjawattana, Director of the Program Management Unit on Area Based Development (PMUA), said that past evidence shows the scheme effectively stimulates the economy and can help bring the informal sector into the formal economy, improving the country\u2019s tax system.<\/p>\n
He added that the policy also promotes benefit-sharing between businesses and the government and simultaneously boosts household purchasing power.<\/p>\n
However, he emphasised that if the scheme is reintroduced, it should be adjusted to reach a broader population, particularly local communities across the country. Policy conditions should also be clarified, such as support for vulnerable households and alignment with other government initiatives like the welfare card programme.<\/p>\n
\u201cIf the scheme is improved and additional policy conditions are added, it can simultaneously stimulate the economy and elevate grassroots economic development, while avoiding concentration of benefits in limited areas,\u201d Kitti said.<\/p>\n","protected":false},"excerpt":{"rendered":" Proposal to add minimum spending conditions When comparing the Let\u2019s Go Halves scheme with digital cash handout,…\n","protected":false},"author":2,"featured_media":4807,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[5984,220,114,186,184,85,46,5983,5985],"class_list":{"0":"post-4806","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-anutin-charnvirakul","9":"tag-breaking-news","10":"tag-business","11":"tag-co-payment","12":"tag-economy","13":"tag-il","14":"tag-israel","15":"tag-lets-go-halves","16":"tag-prayut-chan-o-cha"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/4806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=4806"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/4806\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/4807"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=4806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=4806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=4806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}