Korn Chatikavanij proposes 10% cut to Thailand's 2027 budget

Korn Chatikavanij, a Democrat Party MP, has proposed a 10% across-the-board reduction of the 3.788 trillion baht fiscal budget for 2027. The proposal aims to allow the Cabinet to reallocate funds toward five critical structural areas: education, the aging society, household debt, production efficiency, and technological adaptation.

During a parliamentary debate, Korn criticized the current budget allocation and revenue collection methods. He noted that government revenue as a percentage of GDP has declined to 14%, with 99% of tax collection coming from workers while only 1% is collected from the ultra-wealthy. He also cautioned that despite a 400 billion baht loan decree, funds are often spent on existing projects or equipment rather than addressing long-term structural issues. Korn warned that without reform to tax structures and economic management, the country risks falling into a budget trap that will disproportionately affect low-income earners and the elderly.