Few pause in cashing and spending their Govt cheques

Of those earning less than Bt7,500 a month, 48 per cent spent all or part of the money, while only 18 per cent cashed the cheques and kept the money.

The Chamber Business Poll surveyed 1,407 recipients from Thursday to Saturday.

Of those with salaries from Bt12,000Bt15,000, 38 per cent spent all or part of their cheques while 28 per cent said they would spend the money during the Songkran holiday festival next week.

The joint pollsters - the University of the Thai Chamber of Commerce and the Thai Chamber of Commerce - estimated that Bt1,546.77 on average had been spent from a cheque.

Since Bt15 billionBt17 billion is expected to be spent in the first 15 days to Songkran, possibly Bt45 billionBt60 billion would circulate in the three remaining quarters of this year.

Circulation of Bt60 billion would add 0.30.5 percentage point to economic growth, which has been forecast at a minimum 1.52 per cent without the provision of the government's gift cheque policy.

In a similar sampling of 2,000 eligible recipients, 80 per cent cashed the cheques immediately while 11 per cent bought goods with the cheques and received change in cash from cooperating stores. About 8 per cent used up all the money at stores which offered a higher value than Bt2,000.

Regardless of income level, 32 per cent of eligible recipients in this sample spent the entire Bt2,000 cheque, 56 per cent spent part of the money and saved the rest and 10 per cent conserved the whole amount. A small number held onto the cheques as keepsakes in the belief that such a government grant was impossible in the future.

In Buri Ram in the Northeast, local tourists increased sharply as a result of the annual promotion of a tourism programme at Phanom Rung historic park in Chalerm Phra Kiat district scheduled for April 25, as well as the distribution of the cheques to local recipients.

In Phitsanulok in the lower North, the handing out of the cheques ended yesterday, after more than 20,000 recipients received them starting last Friday. Anyone failing to pick up his cheque can get it at the provincial hall within 60 days, officials said.

Long queues formed at many schools in Lampang in the North. The distribution will continue at only the provincial Social Security Office from today until April 8.

In Greater Bangkok, the cheques will be distributed to government pensioners at only the Department of Export Promotion until next Sunday.