Cabinet will consider tax incentive scheme for New Year shopping tomorrow

BANGKOK, Nov 6 (TNA) -- The Cabinet may decide on a tax incentive for New Year shopping in its meeting tomorrow, Deputy Prime Minister Somkid Jatusripitak said. Regarding economic stimulation measures late this year, Mr Somkid told reporters that interested parties should wait for the outcome of the cabinet meeting on Nov 7. Meanwhile, Predee Daochai, chair of the Thai Bankers Association and president of Kasikornbank, said a tax incentive for shoppers would boost economic growth that was earlier expected to expand by 3.7% this year. He said economic growth will result in more lending. The lending of Kasikornbank will increase by 4-6% this year and 5-7% next year. If the national economy expands by 4% next year, the bank will review its lending growth projection. Mr Predee commented on the government’s idea to confiscate money in bank accounts left idle for 10 years and over. He said that the measure would not affect a financial institution because money in such idle accounts was small, only 10 billion baht out of all deposits worth 10 trillion baht. Besides, the owners of such idle bank accounts could retrieve their money from financial institutions or later from the Finance Ministry, he said. (TNA)