Council of State makes digital wallet look even harder

The government’s legal advisers have issued a very polite warning about the massive borrowing plan which is necessary if the ruling Pheu Thai Party is to keep its controversial election promise. Problem is “being nice” can always be misinterpreted and that is exactly what happened over the past few days.

The Council of State’s opinion on the Bt500 billion borrowing bill was first considered a nod but then not quite so when the respectful wordings were carefully scrutinised. The advisory body actually warned that the government must strictly comply with the Fiscal Discipline Act, citing Section 53, which states that a loan bill can be issued only when there is a crisis or an urgent necessity, and Section 57, which states that the borrowing must be spent on a plan or project which is economically or socially worthwhile.

More sections of the Fiscal Discipline are coming into…