Cash handout ends up in bank accounts

Mozo

Monday 27 April 2009

The majority of people who are set to receive Kevin Rudd’s cash handout will put it straight in their bank account, a new poll shows.

Despite Kevin Rudd’s pleas for Aussies to spend a dollar for their country, most people are intending to put the $900 bonus straight in their bank accounts, a new survey from Fujitsu Consulting has shown.

Members of the younger generation are most likely to do Rudd’s bidding and splash out on some personal luxury, with Fujitsu’s Martin North telling the Sunday Telegraph that iPhone’s featured heavily on people’s wishlists.

Meanwhile, the majority of seniors said they would use the money to pay off credit card and home loan debts, or just stash the cash away in a savings account.

"The survey shows that if the intention was to get money into the economy, then such broad economic stimulus is not working very well," said Mr North.

Mr Rudd announced that the cash bonus would be made available to all Aussies who filed their taxes in time for the annual deadline, prompting a big increase in demand for accounts.

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