The Pheu Thai Party's digital wallet policy is nothing new, but just a cash handout scheme, said former finance minister Thirachai Phuvanatnaranubala.
Mr Thirachai, a policy adviser of the Palang Pracharath Party (PPRP), is the latest to join the chorus of criticism against the 10,000-baht digital money giveaway policy.
He wrote on his Facebook on Wednesday that the 10,000-baht digital wallet programme is a straightforward cash handout except the money is given to people as an electronic coupon which can be exchanged for cash.
"That's why it is called '10,000-baht digital wallet', not 'digital money'," he wrote.
According to the Pheu Thai Party, the 10,000 baht is a one-time handout aimed at stimulating spending in communities in the first six months if they win government. The scheme will use blockchain technology to ensure the money is spent within a 4-kilometre radius to spur local economic activity.
Mr Thirachai said the digital wallet is far from innovative and unlikely to contribute to further development of the digital economy, adding that some people might see it as a populist scheme in disguise.
He raised several questions concerning the policy, including whether it would be an added financial burden on the state and which state agencies would be involved in implementing it.
The former finance minister also expressed concerns about data security if a private company was hired to develop the system for the digital wallet programme.
"This scheme seems to have large operating costs. Traditional coupons may help reduce such costs, but using coupons would show that this is a populist scheme, wouldn't it?" he wrote.
United Thai Nation (UTN) Party leader Pirapan Salirathavibhaga on Wednesday urged people to consider parties' policies carefully.
The current state welfare card could be affected if a digital wallet was implemented, Mr Pirapan said.
"People have to weigh things up, as having all of them is impossible. If they get this, others must be cut," he said.
Srettha Thavisin, one of Pheu Thai's prime ministeral candidates, shrugged off the criticism, saying the programme was feasible and would not affect the country's fiscal status. He said that other parties' schemes, such as increasing state welfare card benefits from 200-300 baht to 700 baht per month, would also require huge state spending.
However, he said the party's digital wallet policy was designed as an economic stimulus scheme.
Mr Srettha said the party would clarify the policy to the Election Commission, which has asked the Pheu Tha Party to explain how much money would be needed to fund the policy and where the funds would come from, as such details are required by law.
