Bangkok: Associate Professor Dr. Yutthaporn Isarachai, a faculty member of the Faculty of Political Science at Sukhothai Thammathirat Open University, has highlighted the 'Thai Helps Thai Plus 60:40' project as a fiscal innovation aimed at accelerating spending, reducing living costs, and revitalizing the grassroots economy.
According to Thai News Agency, Associate Professor Dr. Yutthaporn analyzed the project, describing it as a profound fiscal innovation amidst a global economy dealing with structural inflation, shifts in supply chains, and weakened consumer purchasing power. He pointed out that the Thai economy is facing a prolonged low-growth trap, with traditional monetary policies like interest rate reductions offering limited stimulation to the real economy. Thus, fiscal policy becomes crucial in driving economic growth.
The "Thai Helps Thai Plus" project employs a co-payment model where the government covers 60% and the public contributes 40%. This model is designed not only as a short-term measure to stimulate spending but also as a strategic policy architecture to ensure efficient circulation of money within the economy. A key advantage of this model is its capacity to inject dormant savings into the system, unlike cash handout policies that might lead to saving or debt repayment, preventing money from circulating.
Assoc. Prof. Dr. Yutthaporn emphasized that the model empowers citizens to become economic partners, not just welfare recipients. This partnership allows government funds to attract significant public sector investment, thereby boosting the economy. The daily spending limits within the project help accelerate money circulation, benefiting small retailers, convenience stores, fresh markets, and restaurants across the nation, and facilitating multiple rounds of circulation within the grassroots economy.
The project also extends benefits to public transportation systems, significantly reducing living costs for workers and salaried employees in major cities. For urban residents, transportation costs can account for 20-30% of daily income, and reducing this burden by 60% effectively increases people's real income.
Furthermore, Dr. Yutthaporn noted the integration of AI and digital technology into the project as a significant upgrade to the economic structure. Retail transaction data becoming digital financial credit enables future loan applications, addressing the informal economy by providing small-scale traders with the financial documentation needed for funding access.
The "Thai Helps Thai Plus" initiative stands apart from traditional populist policies by fostering a community-partnership model where citizens play an active role in economic development alongside the government. Dr. Yutthaporn concluded that the project is not merely a short-term solution but a model of fiscal innovation that transforms charity into cooperation, tax money into an economic force, and contributes to economic, social, and political stability.
Dr. Yutthaporn advocated for the support and further development of this policy, deeming it one of the most suitable economic management models for Thailand's current context.