Cabinet approves stimulus measures

 Among the main measures, the government will spend Bt19 billion to help members of the Social Security Fund, Bt9 billion to increase the elderly allowances, Bt11 billion to finance energy-related policies, and Bt6.9 billion to aid unemployment.

 Abhisit said that the allocation was based on the idea that the fastest and most effective way to boost the economy is through increasing consumers' purchasing power. He cited that the decision was based on the analysis and researches of stimulus measures launched by other countries across the world. He noted that as purchasing power rises, it would lead to higher spending and this would help the industrial and agricultural sector.

Of total, the free tuition policy would require a budget of Bt19 billion.

  All the measures would be submitted to Parliament on January 28, so that the proceeds could be distributed in mid or late March.

 "I also asked the Cabinet to look into the ways to reduce tourism operators' costs and boost tourism, without using the government budget," he said, adding the measures could involve fees reduction as well as more seminars in provinces by state agencies. 

 The Commerce Ministry was also assigned to look into product prices which have not yet fallen in line with oil prices, and submit the information to the Council of Economic Ministers at tomorrow's meeting or the next Cabinet meeting at the latest.

 Abhisit promised that all the measures would be properly carried out. For example, the elderly allowances would go directly to the target, while there are committees to oversee other measures. "I'm confident that the money would definitely boost the economy," he said.

 He noted that it is possible to boost export and tourism without government budget. He added that in boosting tourism, the priority is to woo tourists particularly Thais. In exports, the problem is buyers' lower purchasing power.

 "We have been thorough and decided that by approving the measures, we did not ignore the export and tourism sectors as we still can do it withtout budget spending," he said.