Korn proposes Provincial Lottery to boost National Savings Fund

Matichon•Politics•10d ago

Reader Briefing

Korn Chatikavanij criticized the reduction of the National Savings Fund budget and proposed a provincial lottery system to stimulate long-term savings.

•Korn Chatikavanij discussed the National Savings Fund budget during a parliamentary session on September 10.
•The National Savings Fund budget for fiscal year 2027 was reduced by nearly 50% compared to 2026.
•The Democrat Party proposes a 'Provincial Lottery' to convert gambling behavior into sustainable savings.

Overview

•On September 10, Korn Chatikavanij debated Section 39 regarding revolving funds during a parliamentary meeting.
•The budget for the National Savings Fund in fiscal year 2027 was reduced from 655 million baht in 2026 to 347 million baht.
•Korn Chatikavanij noted a contradiction where the National Savings Fund aims to increase members from 2.8 million to 3.2 million despite the budget cut.
•Out of 2.8 million current National Savings Fund members, only 200,000 save regularly, 600,000 save occasionally, and over 2 million accounts are inactive.
•Korn Chatikavanij argued that reducing the budget because matching funds were not fully spent is a lack of commitment and imagination in promoting savings.
•Korn Chatikavanij proposed that the Ministry of Finance coordinate with Government Savings Bank and the Ministry of Education to bring students into school banking systems.
•The Democrat Party's 'Provincial Lottery' proposal involves issuing 100,000 tickets per province at 50 baht each, with 40 baht going directly into the buyer's National Savings Fund account.
•The Provincial Lottery model is intended to create 77 new millionaires per draw across all provinces without burdening the government budget.

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Source: Matichon (Original)

Key Quotes

Korn Chatikavanij

"NSF is an important tool of the state in providing free matching funds to create retirement security."

กอช.เป็นเครื่องมือสำคัญของรัฐในการแจกเงินสมทบฟรี เพื่อสร้างหลักประกันยามเกษียณ

Key Entities

Person

Korn Chatikavanij(กรณ์ จาติกวณิช)ℹ️

A list MP from the Democrat Party who debated the National Savings Fund budget.

Organization

Democrat Party(พรรคประชาธิปัตย์)

The political party of Korn Chatikavanij which proposes the Provincial Lottery policy.

National Savings Fund(กองทุนการออมแห่งชาติ)

A state tool for providing matching funds to create retirement security.

Ministry of Finance(กระทรวงการคลัง)ℹ️

The ministry suggested to coordinate with banks and education sectors to increase savings members.

Government Savings Bank(ธนาคารออมสิน)

A bank suggested to coordinate with the Ministry of Finance and Ministry of Education for student savings.

Ministry of Education(กระทรวงศึกษาธิการ)ℹ️

The ministry suggested to coordinate with the Ministry of Finance and Government Savings Bank for student savings.

Policy

Provincial Lottery(หวยจังหวัด)

A proposal by the Democrat Party to issue lottery tickets where a portion of the price is saved in the National Savings Fund.