By Andrew Batt:
Recent studies have highlighted a widening gap between Thailand’s rich and poor, with the upper class holding most of the country’s national assets.
Press TV, citing studies carried out by Thammasat University, noted the nation’s richest 20 percent own more than half of the value of all household assets, including houses, land, cars, and cash.
“With less than three years to go, Thailand, an Asian economic community, must address challenges and bridge the development gap,” Development Studies Institute’s Kriangsak Chareonwongsak told the Tehran-based website.
“In order for the country to pull itself out of the political abyss and division, it has to start by land reform and equitable distribution of wealth,” he added.
The study suggested the implementation of a one percent tax on rich household assets with the aim of generating US$ 6 billion for social welfare initiatives, however Analysts doubt these plans will see the light of day as a number of politicians are also owners of substantial property portfolios.
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