Social security for informal sector labour a pressing national priority

13 Sept 23:40 Key points summarised by AI

Thailand faces a critical challenge in expanding social security to its 19.6 million informal workers, who lack adequate protection against economic shocks, health crises, and old-age poverty compared to formal sector employees.
While Section 40 of the Social Security Act allows informal workers to voluntarily contribute for limited benefits, a substantial nine million remain uninsured, highlighting the inadequacy of current provisions and the need for broader coverage.
Experts propose urgent reforms, including significantly increasing old-age benefits under Section 40 and funding these expanded protections through measures like a VAT hike, to ensure comprehensive social security for an aging population.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.