Fiscal Policy In Thailand Essay
The older population is largely increasing while the adult population tends to be decreasing. This means the potential labor force and the retired population ratios are dropping. This makes the adult population and the government need to shoulder responsibility for taking care of the older persons. In case Thailand reaches the old age society, this has an effect on every social service provision. From the population structure prediction having change in the future, there are some important aspects in economics and social science. First aspect: There are the urgent needs for the government to having a clear welfare policy for the old age population and reforming the Social Security system. If there is no change, the system may not be able to support the expense increment. Second aspect: There are necessities for …show more content…
Targeting specific and the universal coverage.
3. All people have the right to receive social services about the stability of society as citizenship.
4. Three sides of service system are social assistance, social insurance and social service.
5. Taking into consideration about responsibilities, rights, equality and justice (Bradshaw, 1972).
2.1.3 Concepts of fiscal policy
The two main variables of fiscal policy are the government spending (G) and government revenue which is taxes (T) that can be change overtime based on the stance of fiscal policy.
For example, the contractionary fiscal policy involves government spending lower than tax revenue using to paying down the national debt and vice versa.
In theory, the budget preparation is often assumed that the budget deficit is unrelated to the income. But in practical, the budget deficit is based directly on government revenue. Moreover, the government's budget is deficiency in some years. Government may not intend to stimulate the economic growth. It may be necessary to let the budget deficit because the government could not cover the spending by tax revenue.
Figure 2: Budget Deficit and Real
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