Smashed households vow to save budget windfalls

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Hooocoodanode?

Most Australians say they will use the federal government’s $300 energy subsidy to increase savings or pay down loans, countering fears of a spending splurge that would fuel inflation after last week’s federal budget.

An exclusive survey shows only 21 per cent of voters plan to spend the electricity bill rebate, compared to 79 per cent who say they will save it or use it to pay off credit cards and other debts.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.