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Free AccessBudget Debate Gets Underway At 9:30 ICT/3:30 BST, Thamanat Eyes Fresh Attack At PM Prayuth
The first reading of the THB3.18tn budget bill for the fiscal year 2023 will kick off this morning, with the opposition looking to use this opportunity to challenge PM Prayuth's government.
- Opposition parties decided to form a united front and vote against the budget bill rather than abstain. Pheu Thai MP and Deputy Chief Opposition Whip Somkid Chuekong said as much, as fellow opposition leaders criticised various parts of the spending plan over the recent days.
- The coalition government commands a majority of 230-240 votes in the lower house (per Bangkok Post calculations), which theoretically gives it a privileged position vis-a-vis the 206-strong opposition. However, some minor parties have been non-committal about their support.
- The formally independent Setthakij Thai party may play a pivotal role, after Thamanat Prompow launched an internal coup to assume its leadership. Recall that Thamanat was expelled from the ruling PPRP last year amid his alleged plot to oust PM Prayuth.
- Thamanat continues his efforts to unseat the Premier after moving to Setthakij Thai and the budget debate, to be followed by a censure motion, provides an opportunity to stage a fresh attack.
- Political experts cited by the Bangkok Post questioned Thamanat's claims that he had mustered the support of 40 MPs from various parties. One analyst said that Thamanat "is likely to focus on undermining the prime minister until his term ends," as his "group isn't ready for the break-up [of the government]."
- The newspaper suggested that if the budget is rejected in the first reading, PM Prayuth "will come under mounting pressure to resign. That said, the prime minister is more likely to dissolve the House if the bill is rejected."
- The budget debate will last until June 2, with the opposition looking to submit a no-confidence motion against the government on June 15. Following the submission of the no-confidence motion, PM Prayuth will be unable to immediatelyt dissolve the parliament.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.