Bangkok: The Council of State has issued a critique of a recent proposal by the Anutin government regarding a long-term savings lottery project, stating that it violates the Government Lottery Office's (GLO) duties. The controversial proposal suggested that if individuals do not win the lottery, they should save up money to buy more lottery tickets, which the Council found to be in conflict with the GLO's responsibilities.
According to Thai News Agency, Mr. Lawaron Sangsanit, Permanent Secretary of the Ministry of Finance and Chairman of the GLO, revealed that the Ministry of Finance had referred the long-term savings lottery project to the Office of the Council of State for evaluation. The proposal included partially refunding winners of digital lottery tickets as a means to promote savings. However, the Council of State concluded that the project could not proceed, as it diverges from the GLO's main objective, which is to sell government lottery tickets, not to encourage savings among the public.
In response, the Ministry of Finance, headed by the Economic Cabinet, is exploring alternative policies to enhance public savings and financial stability through the Individual Savings Scheme (TISA). This scheme is designed to be tax-deductible and offers individuals flexibility in choosing their savings or investment strategies, such as stocks, bonds, or low-risk assets, within government-determined limits. The new scheme aims to replace older systems that focused on specific products like RMFs or LTFs, thus addressing tax inequality and reducing market distortions previously caused by tax measures.