Spending master plan nearly done

Spending master plan nearly done
Bangkok Post (11 October 2007)

The Finance Ministry is finalising a master plan that will outline social spending and tax policies from 2008-12. The master plan would detail on tax policies to support a number of social initiatives, including programmes to strengthen local communities, support the elderly and discourage consumption of alcohol, tobacco. Taweesakdi Manakul, director of specialised financial institutions division for the Fiscal Policy Office, said the final draft was nearly complete following numerous meetings and consultations with community village leaders, academics and senior civil servants from a number of agencies. He told participants at a seminar yesterday on fiscal policy development that the master plan outlined four strategies and 27 initiatives aimed at helping rural communities adapt to social and environmental changes as well as changes in values as a result of globalisation. Self-sufficiency and the pursuit of a knowledge-based society were other principles outlined in the fiscal plan, which also aims to reduce income disparity and promote conservation. Specifics outlined in the plan include skills training programmes, financial aid for education and a revamp of existing ''sin taxes''. Community savings pools and initiatives to encourage home ownership for low-income groups are also outlined in the draft, as well as new tax initiatives to support families and religious institutions. Machima Kunjara Na Ayudhya, a corporate social responsibility adviser for the Stock Exchange of Thailand, recommended that the fiscal plan consider growing concerns voiced about issues such as global warming, wealth creation and quality of life. ''I think when we talk about measures aimed at encouraging people to do good or care for the environment, we need to consider alternatives that are voluntary, not compulsory. People need to understand that the benefits are for themselves and for society,'' he said.