Abhisit’s 2000 THB national bribe will benefit large groups…

Central Group companies, Tesco Lotus, the Major Cineplex Group, CP Fresh Mart, Big C Supercentre, McDonald’s, Carrefour, KFC and Pizza Hut are among 21 business operators enlisted to allow low-income earners to purchase items using their Bt2,000 government cheques.

Deputy Finance Minister Pruttichai Damrongrat said some operators were even offering discounts of up to 70 per cent.

The operators signed a memorandum of understanding yesterday. They make up 3,146 outlets nationwide. (Nation)

Well done Abhisit. Nine millions (latest figure) of people are going to receive… 40 Euros (2000 THB) end of march, beginning of april (read here)..

The alleged Prime Minister call this a “stimulus plan“, to “start up” the economy. It’s so pathetic. It’s a blow into the water, it’s nothing more than a mere national bribe.

And it’s a striking demonstration of contempt : “You are poor ? Here are 2000 THB. Go buy junk at Tesco and shut up”.

Some are going to drink those 2000 THB. Other will buy a mobile phone (made in China). And a majority will just buy stuff in large outlets.

Eventually, big groups like Central, Tesco, CP, Carrefour… will enjoy higher sales during a few weeks. And then ? The state will recover 7 % (VAT). And then ? After ?

Where is the “stimulation” in this idiotic scheme ? 18 billions THB burned. For nothing. 18 billions THB to be shared between a lot of large companies (so per companie the effect will be marginal). And after ?

3 Responses to “Abhisit’s 2000 THB national bribe will benefit large groups…”

  1. 1 Lothar 20 March 2009 at 6:02 am

    Who is covered under the “Social Insurance Fund” ?

    Not that many i guess. At least all this day to day workers, farmers, market woman will not receive any single baht.

    But the poor would be the people who give the stimulus by buying local foods and a few clothes.

    And here in Mae Hong Son we don’t even have any of the Tesco Lotus, the Major Cineplex Group, CP Fresh Mart, Big C Supercentre, McDonald’s, Carrefour, KFC or Pizza Hut.

    What a stupid idea from the stupid government.

  2. 2 mark 20 March 2009 at 8:15 am

    Many of the Thai staff I work with (in the 20k to 100k per month pay bracket) are quite bitter about this handout. They are smart enough to recognise that this is a simple redistribution of taxpayers money by a Government which is broke and bereft of ideas.

    It’s a Thaksin-like policy to buy future votes and appease criticism of poor economic performance.

  3. 3 ThaiCrisis 20 March 2009 at 8:53 am

    They wanted Abhisit ? They have him.
    It was a foolish idea to think that Abhisit would bring “change” to thai politics, even though I acknowledge that he’s like a real western politician : able to speak gently, with smart words, about everything, without saying anything. And he looks good. Now this is real change.

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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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