Bangkok: Abhisit Vejjajiva, the leader of the Democrat Party, presented a firm stance against the approval of the 400 billion baht loan decree in Parliament. He outlined four key reasons for his opposition, emphasizing that the decree, if passed, would not lead to positive economic growth and would fail to address Thailand's ongoing energy crisis.

According to Thai News Agency, Mr. Abhisit argued that the Constitutional Court's validation of the decree, despite expert opinions from distinguished public law specialists, tax experts, and economists, raised concerns about its legality. He highlighted the court's lack of authority to determine the necessity of the decree under the 2017 Constitution, which he felt undermined legislative power. Furthermore, he stressed that the decree could not effectively resolve the crises it aimed to address, criticizing the government's failure to tackle the root causes of economic instability, such as rising energy prices.

Mr. Abhisit pointed out the inadequacy of the government's measures to manage energy costs, arguing that previous governments managed similar situations without resorting to excessive borrowing. He noted that proposed solutions, like excise tax measures, would be more cost-effective than borrowing large sums for short-term relief projects. Additionally, he criticized the lack of a coherent strategy for transitioning to alternative energy sources, such as biodiesel, highlighting the need for strategic planning rather than dependency on imported solar equipment.

He further questioned the decree's impact on economic stability, arguing that the problems it intended to solve did not justify the financial burden it would impose. He expressed concerns over the rising public debt and the government's ability to manage future economic crises. Mr. Abhisit warned that the decree's implementation could lead to increased financial risks, drawing parallels to past economic crises in Thailand and emphasizing the importance of sustainable financial planning.

The Democrat Party leader concluded by emphasizing the need for a clear energy strategy and stable economic foundation, asserting that the decree fell short in providing either. He urged Parliament to reject the emergency decree, advocating for more effective solutions to Thailand's economic challenges.