Cabinet Approves Phase 2 Measures to Assist Informal Workers, Including Employees, Temporary Workers, and Freelancers
Deputy Prime Minister Somkid Jatusripitak announced that the Cabinet has approved Phase 2 measures to mitigate the impact of the COVID-19 virus on citizens who are informal workers, including employees, temporary workers, and freelancers.
The first set of measures aims to enhance liquidity:
1. A monthly living allowance of 5,000 baht for a duration of 3 months, with the possibility of extension if the outbreak situation persists beyond that.
2. An emergency loan measure with a budget of 40 billion baht to bolster liquidity and prevent individuals from falling into informal debt. State banks, including the Government Savings Bank, the Bank for Agriculture and Agricultural Cooperatives (BAAC), and Krung Thai Bank, will primarily provide loans of 10,000 baht per person at a low interest rate of 0.1% per month without collateral.
3. Special loans with a total budget of 20 billion baht, offering secured loans of 50,000 baht per person at an interest rate of 0.35% per month.
4. The Pawnshop Office will accept low-interest pawning with a total budget of 2 billion baht, charging no more than 0.125% interest per month.
Additionally, the burden on workers will be alleviated by extending the deadline for personal income tax filing and payment to August 2020, allowing for an increased deduction for health insurance premiums from 15,000 baht to 25,000 baht, and exempting income tax for hazard pay for medical personnel.