More stimulus : another tax cut for housing sector

More of the Dildo Economy, more stimulation to come 😉

The government claims that GDP growth will hit 6 % this year, but meanwhile… creates packages to “stimulate the economy“. We had a first one (42 billions) then a second one (for rural people, with an absurd total amount of 570 billions THB), and now a third one, to boost… the real estate sector.

Anyway, it’s a good news for the boiler room.

In an attempt to boost the real estate sector in Thailand as well as assisting the poor to be able to own their own homes, the Cabinet on Tuesday approved additional measures to stimulate the economy, which it targeted to grow by at least six per cent this year.

Under the added measures, the registration and mortgage fees for buildings with land areas not exceeding one rai will be reduced from two and one per cent respectively to 0.01 per cent.

The incentive will be enforced the day after the order is published in the Royal Gazette and remain in effect until March 28 next year (TNA).

2 Responses to “More stimulus : another tax cut for housing sector”

  1. 1 James 27 April 2008 at 3:13 am

    Ever notice Thailand likes to follow in “lock-step” with the U.S.?

  2. 2 thaicrisis 28 April 2008 at 4:05 am

    Indeed. The US are doing exactly the same : posting checks to taxpayers ! (the operation should start in may).

    The result would be the same than in Thailand : zero or… a little bit higher than zero.

    With 1000 USD, a US household will pay some credit cards bills, gasoline, and could buy a fifth LCD TV screen (from China)… And after ? Well that’s all.

    Now a solution could be that the US treasury post EACH MONTH checks of 1000 USD.

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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.

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