Australians break records in pre-christmas spending

Kevin Rudd may well be breathing a sigh of relief after the news that consumers have spent a record $38 billion in the run-up to Christmas this year.

Despite concerns that many people would simply use his cash handout to pay off their home loans and credit card bills or stow it away in a savings account, it seems many Aussies have obliged the premier and gone out and spent it.

According to the Australian Associated Press, NSW residents have been by far the biggest spenders, with cash registers ringing to the tune of $12 billion, compared to Victoria’s $9 billion and the $8 billion spent in Queensland.

Speaking to the news agency, Retailers’ Association executive director Scott Driscoll urged Aussies not to stop there and gear themselves up for some serious sales spending come boxing day.

“A lot of retailers will open between 8am and 9am, so make sure you don’t have a big one on Christmas night,” he advised.