Bangkok: "Chulaphan" has elaborated on the "Creating 9 Millionaires a Day" policy, clarifying that it aims to integrate citizens into the tax system as part of a strategy to transform Thailand into a high-income nation.

According to Thai News Agency, Mr. Chulaphan Amornvivat, leader of the Pheu Thai Party and prime ministerial candidate, has emphasized that the policy is not a money giveaway but a strategic move to bring more individuals into the formal tax and government database systems. The initiative is seen as a necessary step to advance Thailand's economy through innovation and technology.

Mr. Chulaphan outlined that the policy offers incentives for citizens to voluntarily participate in the tax system, which is crucial for transitioning the informal economy into a formal one. This shift aims to develop a comprehensive Big Data system to enhance high-value economic sectors and deliver precise welfare services.

The policy involves a daily lottery where Thai citizens can win one million baht, with nine winners selected each day. The selection process includes five winners from receipt or e-receipt numbers and four from national identification numbers, targeting registered farmers, volunteers, senior citizens, and tax filers.

Mr. Chulapan highlighted the potential benefits, noting that Thailand's informal economy is valued at over 9 trillion baht, leading to missed revenue opportunities. Drawing on successful international models from Brazil and Taiwan, the policy could increase tax revenue by up to 20%, potentially netting the government 200 billion baht in value-added tax. The policy's estimated cost is around 3 billion baht, presenting a favorable cost-benefit scenario.

Additionally, a robust income and occupation database will enable targeted budget allocations and welfare programs, aiding in poverty reduction, corruption prevention, and the promotion of digital governance.

Dr. Phrommin Lertsuriydet, chairman of the Pheu Thai Party's economic committee, addressed comparisons to other parties' lottery policies, emphasizing that Pheu Thai's approach focuses on comprehensive data system investments and revenue generation. He clarified that the policy is not designed to stimulate consumption or increase public debt but to formalize the informal economy, fostering sustainable national income and welfare.