“Relevant ministries must submit their proposals to me within August,” Deputy Prime Minister Somkid Jatusripitak said after a meeting with Finance, Public Health, Labour, Social Development and Human Security ministries. “These measures should be ready for implementation this year.”

The three urgent measures discussed yesterday include tax incentives for the employment of people aged over 60, housing packages for children of the elderly, plus creation of jobs for senior citizens.

Somkid said the Finance Ministry would work out details for tax incentives for businesses employing people over the age of 60.

Businesses will be offered a 200 per cent tax deduction from their spending. The ministry will also discuss additional measures with the private sector that should be launched to promote employment.

On housing, the National Housing Authority is ready to prioritise individuals with elderly parents under their care to help them buy affordable housing units. The Government Housing Bank will relax lending rules for these individuals and also allow elderly citizens to re-mortgage their properties in return for a monthly allowance.

Meanwhile, the Labour Ministry will set up a logistics centre, where it will record elderly people’s skills in cooperation with the private sector. This will help create future projects.