The Pheu Thai Party vows to give 10,000 baht to all Thais aged 16 years and over via digital wallets on Jan 1, 2024 if it forms the next government.
Key party figures made the announcement on Friday at a briefing to elaborate on the handout policy that was announced earlier this week.
The policy has drawn criticism, especially over the source of the money, as some economists say it would cost taxpayers hundreds of billions of baht.
Businessman Srettha Thavisin, one of the three Pheu Thai prime ministerial candidates, said that if the party wins the May 14 election and forms the government, the handout could be ready by Jan 1, 2024.
He estimated that it would cost the state about 500 billion baht.
Mr Srettha said the policy was aimed at stimulating the national economy. The technology, he said, would be developed to ensure that recipients spend the sum on approved purchases in their local areas based on the addresses on their ID cards.
There would not be any eligibility criteria based on financial status of recipients and it would be a one-time handout, he said.
Prommin Lertsuridet, the party’s economic chief, said the policy would be affordable given that the annual income of government organisations was expected to rise by 260 billion baht, state revenue would increase by over 100 billion baht and budget funds could be saved from projects.
Chakrapong Saengmanee, the party registrar and a member of its economic team, said that with the 10,000-baht handout, people would not want to use government welfare cards anymore and the state could save about 50 billion baht now required for that programme.
Some rival parties, among them Palang Pracharath and United Thai Nation — headed by Gen Prawit Wongsuwon and Gen Prayut Chan-o-cha respectively — have made higher monthly payments for welfare cardholders key elements of their platforms.
