Bangkok: Yutthaporn points out that "Thai Helps Thai Plus" is a fiscal innovation that helps accelerate spending. Yutthaporn pointed out that "Thai Helps Thai Plus 60:40" is a fiscal innovation that helps accelerate spending, reduce living costs, and revitalize the grassroots economy.
According to Thai News Agency, Associate Professor Yutthaporn Isarachai, a lecturer at the Faculty of Political Science, Sukhothai Thammathirat Open University, analyzed the "Thai Helps Thai Plus 60:40" project, stating that it is one of Thailand's most profound and effective fiscal innovations. This is particularly relevant amidst a volatile global economy facing structural inflation, changes in global supply chains, and weakening consumer purchasing power. The Thai economy is currently facing a prolonged low-growth trap, while traditional monetary policies, such as interest rate cuts, are becoming increasingly ineffective in stimulating the real economy. As a result, fiscal policy has had to play a crucial role in driving economic growth instead.
The Thai Help Thai Plus project is not just a short-term measure to stimulate spending, but a strategically designed policy architecture to efficiently circulate money within the economic system. A key strength of the co-payment model is its ability to immediately inject dormant savings into the system, unlike typical cash handout policies that often lead people to save or pay off debt, preventing money from circulating.
"The 60/40 model empowers citizens to become economic partners, not just recipients of welfare benefits. Government funds can therefore attract significant investment from the public sector, thereby boosting the economy tremendously."
Associate Professor Yutthaporn stated that setting a daily spending limit also accelerates the circulation of money, distributing funds to small retailers, convenience stores, fresh markets, and restaurants nationwide, resulting in multiple rounds of circulation within the grassroots economy. Another key advantage is the expansion of benefits to public transportation systems, including buses, trains, and ferries, significantly reducing the cost of living for workers and salaried employees in major cities. "For some urban residents, transportation costs amount to 20-30% of their daily income. By the government reducing this burden by 60%, it immediately increases people's real income," he said.
Associate Professor Yutthaporn also believes that the integration of AI and digital technology into the project is a significant upgrade to the economic structure. Data from retail transactions will become digital financial credit, which can be used to apply for loans within the formal system in the future. This addresses a structural problem in the informal economy, as many small business owners previously could not access funding due to a lack of supporting financial documentation.
"When businesses have a digital transaction history, they have a verifiable economic profile. This can be used as evidence to access low-interest government loans and help reduce reliance on informal debt in the long run."
Associate Professor Yutthaporn further stated that "Thai Helps Thai Plus" differs from traditional populist policies because it doesn't create a society dependent on the state, but rather a community-partnership where citizens participate in driving the economy alongside the government. The 40% contribution from citizens makes them feel involved, dignified, and a partner in the policy, not just recipients of free handouts. He also believes that the circulation of money at the community level strengthens social and economic foundations because people patronize local businesses, fostering greater interdependence within communities.
Associate Professor Yutthaporn concluded that "Thai Helps Thai Plus" is not just a short-term solution, but a model of modern fiscal innovation that transforms charity into cooperation, turns tax money into an economic driving force, and creates economic, social, and political stability simultaneously. "This is a policy that should be supported and further developed because it is one of the most suitable economic management models for Thailand's current context.