Abhisit opposes 400 billion baht loan decree

Prachachat•Politics•50m ago

Reader Briefing

Abhisit Vejjajiva and the Democrat Party oppose the approval of a 400 billion baht loan decree based on four primary reasons.

•Abhisit Vejjajiva argues that the 400 billion baht loan decree will not stimulate economic growth or solve the energy crisis.
•The opposition claims the decree was issued to bypass legislative power and does not meet the criteria of an urgent economic security necessity.
•Abhisit Vejjajiva warns that the loan will push public debt toward the 70 percent GDP ceiling, increasing economic risk.
•The Democrat Party suggests that the government ignored lower-cost solutions and alternative energy strategies like biodiesel.

Overview

•Abhisit Vejjajiva states that the Constitutional Court's ruling on the decree's legality did not determine whether the decree was an unavoidable urgent necessity.
•Abhisit Vejjajiva argues that the government lacks a clear plan for the second 200 billion baht loan, as the monitoring committee has not yet been able to meet.
•Abhisit Vejjajiva asserts that the government failed to solve energy problems at the root, such as by managing excise taxes or refining margins, leading to the need for the Thai Chuay Thai Plus project.
•Abhisit Vejjajiva warns that the 400 billion baht loan will drive public debt toward the 70 percent ceiling, making the economy more fragile.
•Abhisit Vejjajiva claims the energy transition plan for the second 200 billion baht is not systematic and relies too heavily on imported solar equipment.
•Abhisit Vejjajiva suggests the government ignored the Democrat Party's proposals regarding palm oil and biodiesel for alternative energy.
•Abhisit Vejjajiva expresses concern that the loan may be diverted to political projects or lead to corruption if funds are left unused.
•Abhisit Vejjajiva compares the current situation to the Tom Yum Goong crisis, noting that previous loans were used to build a more stable financial system.

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Source: Prachachat (Original)

Key Quotes

Abhisit Vejjajiva

"The reason I do not want to approve this Emergency Decree, legally, is to confirm that the issuance of this decree is an attempt to avoid and reduce our power as the legislature."

เหตุผลที่ผมไม่อยากจะอนุมัติ พ.ร.ก.ฉบับนี้ ในทางกฎหมายก็เพื่อยืนยันว่าการตราพ.ร.ก.ครั้งนี้ เป็นความพยายามในการหลีกเลี่ยงและเป็นการลดทอนอำนาจของพวกเราในฐานะฝ่ายนิติบัญญัติ

Key Entities

Person

Abhisit Vejjajiva(อภิสิทธิ์ เวชชาชีวะ)ℹ️

List MP and leader of the Democrat Party.

Korn Chatikavanij(กรณ์ จาติกวณิช)ℹ️

Deputy leader of the Democrat Party.

Organization

Democrat Party(พรรคประชาธิปัตย์)

A political party that opposes the 400 billion baht loan decree.

Constitutional Court(ศาลรัฐธรรมนูญ)ℹ️

The court that ruled the issuance of the loan decree was constitutional.

Chulalongkorn University(จุฬาลงกรณ์มหาวิทยาลัย)ℹ️

An institution from which experts provided testimony to the Constitutional Court.

Thammasat University(มหาวิทยาลัยธรรมศาสตร์)ℹ️

An institution from which experts provided testimony to the Constitutional Court.

TDRI(ทีดีอาร์ไอ)

An organization from which experts provided testimony to the Constitutional Court.

Oil Fund(กองทุนน้ำมัน)

A fund used by the government to manage fuel prices.

BAAC(ธ.ก.ส.)ℹ️

A state bank to which the government owes money.

Ministry of Interior(กระทรวงมหาดไทย)ℹ️

A ministry mentioned in relation to projects concerning clean energy skills.

Ministry of Education(ศึกษาธิการ)ℹ️

A ministry mentioned in relation to projects concerning clean energy skills.

Law

400 Billion Baht Loan Emergency Decree(พระราชกำหนด (พ.ร.ก.)กู้เงิน 4 แสนล้านบาท)

A decree for borrowing 400 billion baht that is under parliamentary consideration.

Policy

Thai Chuay Thai Plus(ไทยช่วยไทยพลัส)

A government project funded by the first 200 billion baht loan.