People’s Party Unveils ฿250B 100-Day Stimulus for Mortgages, SMEs & AI

Thai voters who have grown weary of sluggish growth, uneven competition and the rising cost of living are about to hear one of the biggest spending pledges of this campaign. The opposition People’s Party (PP) says it will inject ฿250 billion into the economy in its first 100 days in office—promising cheaper loans, tougher action against foreign e-commerce giants and fresh stimulus for shoppers.

Quick view if you’re in Thailand

• ฿100 billion earmarked for first-home mortgages.

• ฿50 billion in easier credit for SMEs, backed by stronger government guarantees.

• ฿100 billion in so-called Transformation Loans to push factories toward digital and AI.

• Smaller but eye-catching gimmicks such as a 15 billion-baht SME receipt lottery and a Half-Half Made in Thailand voucher worth ฿10 billion.

• Parallel crackdown on substandard imports, grey capital and online shops that “game the system”.

Why this spending splash stands out

Previous administrations have relied on temporary hand-outs. The PP is pitching something broader: mix immediate cash-infusion with a regulatory sweep to restore “fair play” in domestic markets. Party leader Natthaphong Ruengpanyawut argues that shielding Thai producers from ultra-cheap imports, while giving consumers more purchasing power, will lift confidence faster than a one-off transfer. The announcement came after closed-door talks with the Federation of Thai Industries (FTI), which has lobbied hard for help in upgrading factories to meet global carbon and digital standards.

Where the money would come from

Natthaphong insists the full ฿250 billion will be financed without widening the deficit:

“Cut-the-fat” audit of overlapping government projects to free up about 71 % of required funds.

Re-prioritising the 2026 budget toward infrastructure already designed but not contracted, delaying only projects with low multiplier impact.

Selling state-held idle land through a transparent e-auction platform.

Fiscal hawks remain sceptical, yet the PP says its plan echoes the Regulatory Guillotine model used by South Korea to trim bureaucratic overheads and release cash within a single fiscal year.

Three loan engines that will start the pump

1. First-home mortgages (฿100 billion)

The government-owned Government Housing Bank would offer below-market rates for units priced under ฿3 million. The party expects property transfers to rise by 20 %, reviving not just developers but also the cement, ceramic and furniture supply chain.

2. SME Credit Line (฿50 billion)

The PP plans to double the guarantee ratio at the Thai Credit Guarantee Corporation to 30 % for micro-enterprises. By allowing utility-bill and e-invoice data to count toward credit scores, more than 200 000 family-run shops could move away from loan sharks.

3. Transformation Loans (฿100 billion)

Factories that install robotics, solar rooftops or AI-driven software can borrow for up to seven years at a fixed 2 % interest. The scheme dovetails with the FTI’s “aFTi Go Digital & AI” roadmap and Thailand’s own BCG (Bio-Circular-Green) economy ambition.

Not just about money: the fairness offensive

Alongside easy credit, PP promises an aggressive clampdown on illegal imports, grey-market capital and off-shore sellers that flood social-commerce feeds. A new Digital Trade Enforcement Unit inside the Commerce Ministry would wield real-time AI scrapers to remove listings that violate Thai quality marks. Offenders could face fines of up to ฿2 million and e-platforms must delist repeat violators within 24 hours.

What economists and big business think—for now

There is no independent macro model yet, but analysts at Kasikorn Research Center tell us that a ฿250 billion injection—roughly 1.3 % of GDP—could lift growth by 0.4-0.6 percentage points if rolled out fast. The FTI welcomes the focus on energy-transition funding, especially the plan to legalise direct power-purchase agreements for clean energy. However, rating agencies are watching Thailand’s debt ceiling, and bond investors will demand evidence that the “cut-the-fat” audit really yields savings.

How it lands in your pocket

• Prospective home-buyers could lock in cheaper mortgages as early as Q3, if the PP reaches power.• Corner groceries might join the receipt lottery, converting every sale into a shot at a monthly prize draw that doubles as anti-tax-evasion software.• Households replacing old fridges or air-cons could claim a 50 % rebate under the Half-Half MiT voucher—money that goes to Thai-made appliances only.• SMEs with thin collateral may see banks courting them once the higher state guarantees kick in.

What could hold it back

Even with political momentum, the PP must shepherd enabling laws through parliament, rewrite credit-guarantee legislation and convince commercial banks to adopt the new credit-scoring formula. Supply-chain bottlenecks—especially in semiconductor-based appliances—could delay the Half-Half rebate. And without cross-border cooperation, counterfeit goods will keep finding new routes into Thai warehouses.

The next milestones

Natthaphong says a draft 100-Day Emergency Economic Decree will be published within 2 weeks of an electoral win. The party also vows to host public hearings with provincial chambers of commerce in all regions to fine-tune sector-specific add-ons. For ordinary voters, the clearer test will come this year’s high-season spending: will the PP’s vision of liquidity plus level playing field finally break the cycle of short-lived stimulus? Only the ballot box, and the first 100 days that follow, will tell.