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5519.0.55.001 - Government Finance Statistics, Australia, June Quarter 2014 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 02/09/2014   
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JUNE QUARTER 2014 KEY FIGURES: ALL LEVELS OF GOVERNMENT


In the June quarter 2014:

  • Taxation revenue increased 4.7% to $117,563m from $112,253m in the March quarter 2014.
  • General government sector revenue exceeded expenditure resulting in a GFS net operating balance of $1,964m.
  • The GFS net lending(+)/borrowing(–) position for the general government sector was –$7,418m.

GFS KEY FIGURES: ALL LEVELS OF GOVERNMENT, ORIGINAL

Mar Qtr 2014
Jun Qtr 2014
Mar Qtr 2014 to
Jun Qtr 2014
$m
$m
% change

Current Prices
Taxation revenue
General government
112 253
117 563
4.7
Total revenue
General government
137 453
147 353
7.2
Public Non–Financial corporations
19 904
21 198
6.5
Total expenses
General government
138 552
145 389
4.9
Public Non–Financial corporations
20 026
23 698
18.3
GFS Net operating balance
General government
–1 098
1 964
. .
Public Non–Financial corporations
–122
–2 500
. .
GFS Net lending(+)/borrowing(–)
General government
–4 444
–7 418
. .
Public Non–Financial corporations
–1 886
–4 426
. .

. . not applicable


QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES – KEY FIGURES

The table below includes the key public sector aggregates for the June quarter 2014 which will be included in the Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0). The key figures shown include Government Final Consumption Expenditure for general government and Gross Fixed Capital Formation for general government and public corporations, seasonally adjusted in current prices and chain volume terms.

In the June quarter 2014:
  • In seasonally adjusted chain volume terms, total general government final consumption expenditure increased by $184m, a rise of 0.3% compared with the March quarter 2014.
  • In seasonally adjusted chain volume terms, total general government gross fixed capital formation increased by 6.0% compared with the March quarter 2014.

QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES – KEY FIGURES, SEASONALLY ADJUSTED

Sep Qtr
2013
Dec Qtr
2013
Mar Qtr
2014
Jun Qtr
2014
Mar Qtr 2014
to Jun Qtr 2014
$m
$m
$m
$m
% change

Current Prices
General government final consumption expenditure (a)
National – defence
5 458
5 551
5 795
5 833
0.7
National – non-defence
22 109
22 202
22 270
22 123
–0.7
Total national
27 567
27 753
28 064
27 956
–0.4
State and local
41 790
42 356
41 910
42 773
2.1
Total general government final consumption expenditure
69 357
70 109
69 974
70 730
1.1
Public gross fixed capital formation
General government
National – defence
1 569
1 702
1 448
1 570
8.4
National – non–defence
2 133
2 113
2 064
2 172
5.2
Total national
3 702
3 814
3 511
3 742
6.6
State and local
7 987
8 504
8 922
9 463
6.1
Total general government
11 689
12 319
12 433
13 205
6.2
Public corporations
Commonwealth
1 493
1 367
1 322
1 474
11.5
State and local
4 727
5 613
4 399
2 795
–36.5
Total public corporations
6 221
6 979
5 721
4 269
–25.4
Total public gross fixed capital formation
17 910
19 298
18 154
17 474
–3.7
Memorandum item
Net purchases of second–hand assets by public sector
790
1 501
575
–577
np

Chain Volume (b)
General government final consumption expenditure (a)
National – defence
5 279
5 348
5 553
5 559
0.1
National – non-defence
21 563
21 493
21 653
21 452
–0.9
Total national
26 842
26 841
27 207
27 011
–0.7
State and local
41 132
41 324
41 199
41 579
0.9
Total general government final consumption expenditure
67 975
68 165
68 406
68 590
0.3
Public gross fixed capital formation
General government
National – defence
1 649
1 789
1 587
1 683
6.0
National – non-defence
2 144
2 140
2 076
2 228
7.3
Total national
3 792
3 929
3 663
3 911
6.8
State and local
7 858
8 327
8 699
9 196
5.7
Total general government
11 650
12 256
12 361
13 107
6.0
Public corporations
Commonwealth
1 490
1 369
1 320
1 470
11.4
State and local
4 598
5 457
4 259
2 666
–37.4
Total public corporations
6 088
6 826
5 579
4 136
–25.9
Total public gross fixed capital formation
17 738
19 081
17 940
17 243
–3.9
Memorandum item
Net purchases of second–hand assets by public sector
792
1 522
569
–645
np

np not available for publication but included in totals where applicable, unless otherwise indicated
(a) See paragraph 37 of the Explanatory Notes for the relationship between general government final consumption expenditure and GFS aggregates.
(b) Reference year for chain volume measures is 2011–12.


JUNE QUARTER 2014 GFS RELEASE

This release presents quarterly government finance statistics on an accrual accounting basis. All tables are presented in GFS operating statement format and are for the general government sector, with the exception of Table 2 which presents data for the public non–financial corporations sector.

Quarterly GFS are released for the current financial year only, other than in the September quarter, when the quarters of the previous financial year are presented. Users requiring data for earlier periods should consult Government Finance Statistics, Australia (cat. no. 5512.0). The latest issue (2012–13) was released on 28 May 2014. Final annual GFS results for 2013–14 are scheduled for release by the ABS in April 2015.

RELEASE OF QUARTERLY GFS THIS ISSUE

Table
Sep 13
Dec 13
Mar 14
Jun 14
Table 1 All Levels of Government – General Government
*
*
*
*
Table 2 All Levels of Government – Public Non-Financial Corporations
*
*
*
*
Table 3 Commonwealth Government
*
*
*
*
Table 4 Total State & Local
*
*
*
*
Table 5 New South Wales
*
*
*
Table 6 Victoria
*
*
*
Table 7 Queensland
*
*
*
Table 8 South Australia
*
*
*
Table 9 Western Australia
*
*
*
Table 10 Tasmania
*
*
*
Table 11 Northern Territory
*
*
*
Table 12 Australian Capital Territory
*
*
*

PAYMENT TO THE RESERVE BANK OF AUSTRALIA

Government Finance Statistics are part of the broader suite of macroeconomic accounts produced by the ABS. They share their basic concepts with the National Accounts and Balance of Payments. The conceptual framework is agreed internationally and published by the International Monetary Fund. Macroeconomic statistics are compiled to enable macroeconomic analysis and the standards differ from accounting standards.

On 23 October 2013 the Treasurer announced that the Commonwealth Government would make a one-off $8.8 billion payment to the Reserve Bank of Australia (RBA). The intended purpose of the transaction is to ensure that the RBA has adequate funds to conduct monetary policy and foreign exchange operations. This payment was made in the June quarter 2014. In macroeconomic statistics, this payment is recorded as a financing transaction and is not included in the operating statement.

FORTHCOMING ISSUES

The release of GFS quarterly data is usually coordinated to be the day before the respective issue of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0). The scheduled release dates for the next two issues are:

Issue5519.0.55.0015206.0
September 2014
December 2014
2 December 2014
3 March 2015
3 December 2014
4 March 2015
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070, email <client.services@abs.gov.au> or Public Finance on Brisbane (07) 3222 6414, email <public.finance@abs.gov.au>. The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to us.


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Commonwealth of Australia 2014

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