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Thailand Revives ”Half-Half” Scheme to Boost Economy and Reduce Cost of Living
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The Bhumjaithai Party-led government is poised to relaunch the popular “Half-Half” co-payment scheme, aiming to stimulate short-term economic growth and alleviate financial burdens on Thai citizens. This initiative, originally implemented during the Prayut Chan-o-cha management, will offer varying levels of support to participants.
The Return of a Popular Policy
Following Anutin Charnvirakul’s appointment as prime Minister,with the bhumjaithai Party at the core of the governing coalition,the revival of the “Half-Half” scheme has been announced as a rapid win
policy. The original scheme, implemented in 2021, proved highly accomplished in driving consumer spending during the COVID-19 pandemic. This new iteration seeks to replicate that success in the face of current economic challenges.
Siripong Angkasakulkiat, Deputy Chief of the Bhumjaithai Party, confirmed that the measure was discussed during a meeting of the party’s executive committee and policy team.While the core principle of the scheme will remain – the government co-paying a portion of purchases – adjustments are anticipated to broaden its reach and effectiveness.
How the Original “half-Half” Scheme worked
The initial “Half-Half” scheme, launched in July 2020, allowed eligible Thai citizens to pay for up to 50% of their purchases at participating stores, with the government covering the remaining half, up to a specified daily limit.This incentivized spending and provided a much-needed boost to businesses struggling during the pandemic.
| Scheme Feature | Original “Half-Half” (2020-2021) |
|---|---|
| Eligibility | Thai citizens aged 18+ with a national ID card and those not receiving government welfare payments. |
| Government Co-Payment | 50% of purchase value (up to a daily limit). |
| Daily Limit | Initially 3,000 THB, later reduced to 2,000 THB and then 1,500 THB. |
| Total Budget | Approximately 45 billion THB. |
| Participating stores | Small and medium-sized enterprises (SMEs) registered with the government. |
the scheme saw significant participation, with over 31 million people registering and spending over 154 billion THB. Data from the Thai PBS World indicates a significant increase in domestic consumption during the scheme’s operation.
Potential Changes and Expected Impact
While details are still emerging, it is anticipated that the revamped “Half-Half” scheme will incorporate lessons learned from the original implementation.Possible changes include:
- Tiered Support: Offering different levels of co-payment based on income or other criteria, ensuring that support is targeted towards those who need it most.
- Expanded Eligibility: Potentially including a wider range of citizens