5519.0.55.001 - Government Finance Statistics, Australia, Jun 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 05/09/2017   
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JUNE KEY FIGURES: ALL LEVELS OF GOVERNMENT


In the June quarter 2017:
  • Taxation revenue increased by 10.8% from $121,778m in the March quarter 2017 to $134,883m in the June quarter 2017.
  • General government sector revenue exceeded expenses resulting in a GFS net operating balance of $7,792m.
  • The GFS net lending(+)/borrowing(-) position for the general government sector was -$5,579m.

Graph Image for ALL LEVELS OF GENERAL GOVERNMENT, GFS REVENUE AND EXPENSES
Graph Image for ALL LEVELS OF GENERAL GOVERNMENT, NET OPERATING BALANCE, NET LENDING BORROWING



GFS KEY FIGURES: ALL LEVELS OF GOVERNMENT, ORIGINAL

Mar Qtr
2017
Jun Qtr
2017
Mar Qtr 2017 to
Jun Qtr 2017
$m
$m
% change

Current Prices
Taxation revenue
General government
121 778
134 883
10.8
Total revenue
General government
152 178
167 684
10.2
Public non-financial corporations
19 215
20 077
4.5
Total expenses
General government
152 872
159 892
4.6
Public non-financial corporations
19 921
21 965
10.3
GFS Net operating balance
General government
–694
7 792
. .
Public non-financial corporations
–706
–1 887
. .
GFS Net lending(+)/borrowing(-)
General government
–5 114
–5 579
. .
Public non-financial corporations
–3 512
–6 053
. .

. . not applicable



QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES - KEY FIGURES

The table below includes the key public sector aggregates for the June quarter 2017 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 seasonally adjusted chain volume terms in the June quarter 2017:
  • Total general government final consumption expenditure increased by $946m, a rise of 1.2% compared with the March quarter 2017.
  • Total general government gross fixed capital formation increased by $2,984m, a rise of 19.7% compared with the March quarter 2017.
  • Total public corporations gross fixed capital formation decreased by $481m, a drop of 8.1% compared with the March quarter 2017.


Graph Image for KEY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES, SEASONALLY ADJUSTED


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

Sep Qtr
2016
Dec Qtr
2016
Mar Qtr
2016
Jun Qtr
2017
Mar Qtr 2017
to Jun Qtr 2017
$m
$m
$m
$m
% change

Current Prices
General government final consumption expenditure (a)
National - defence
7 086
6 703
6 741
6 970
3.4
National - non-defence
26 462
26 867
27 010
27 416
1.5
Total national
33 549
33 569
33 751
34 387
1.9
State and local
47 399
47 499
48 862
50 057
2.4
Total general government final consumption expenditure
80 948
81 068
82 613
84 444
2.2
Public gross fixed capital formation
General government
National - defence
1 826
2 346
2 283
2 961
29.7
National - non-defence
2 270
2 374
2 339
2 038
-12.9
Total national
4 095
4 720
4 622
4 999
8.2
State and local
9 533
9 644
10 615
13 418
26.4
Total general government
13 629
14 364
15 237
18 418
20.9
Public corporations
Commonwealth
1 463
2 165
1 823
1 956
7.3
State and local
3 946
5 185
4 262
3 635
-14.7
Total public corporations
5 410
7 350
6 085
5 591
-8.1
Total public gross fixed capital formation
19 038
21 715
21 322
24 009
12.6
Memorandum item
Net purchases of second-hand assets by public sector
333
1 867
1 728
3 119
np

Chain Volume (b)
General government final consumption expenditure (a)
National - defence
6 733
6 337
6 313
6 491
2.8
National - non-defence
25 888
26 060
26 230
26 349
0.5
Total national
32 621
32 397
32 543
32 840
0.9
State and local
45 708
45 922
46 590
47 239
1.4
Total general government final consumption expenditure
78 329
78 319
79 133
80 079
1.2
Public gross fixed capital formation
General government
National - defence
1 790
2 285
2 217
2 800
26.3
National - non-defence
2 280
2 371
2 332
2 027
-13.1
Total national
4 070
4 656
4 549
4 827
6.1
State and local
9 592
9 667
10 615
13 321
25.5
Total general government
13 662
14 323
15 164
18 148
19.7
Public corporations
Commonwealth
1 453
2 156
1 785
1 902
6.6
State and local
3 877
5 051
4 129
3 531
-14.5
Total public corporations
5 330
7 207
5 914
5 433
-8.1
Total public gross fixed capital formation
18 992
21 529
21 078
23 581
11.9
Memorandum item
Net purchases of second-hand assets by public sector
332
1 779
1 691
3 008
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 2014-15.


JUNE QUARTER 2017 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.

Detailed 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 the annual publication Government Finance Statistics, Australia (cat. no. 5512.0). The latest issue (2015-16) was released on 27 April 2017.

RELEASE OF QUARTERLY GFS THIS ISSUE

Table
Sep 16
Dec 16
Mar 17
Jun 17
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
*
*
*

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 may differ from accounting standards in some regards.


TRANSACTIONS RELATED TO VISA APPLICATION CHARGES

In December 2015, the Commonwealth Government released the 2015-16 Mid-Year Economic and Fiscal Outlook (MYEFO) which included a reclassification of visa application charges (VAC). In MYEFO these charges are now treated as taxation revenue rather than sales of goods and services. This reclassification has been applied to the Government Finance Statistics (GFS), with no impact on total GFS revenue or the GFS net operating balance. The National Accounts statistics will maintain coherence with previously published data and classify this transaction as sales of goods and services. These treatments will remain in place until a review of the treatment of VAC and similar government charges in macroeconomic statistics has been completed.


FORTHCOMING CHANGES TO GOVERNMENT FINANCE STATISTICS

The new Australian System of Government Finance Statistics 2015 (AGFS15) will be effective for all GFS data that is reported from 1 July 2017 onwards, beginning with the September quarter 2017 publication that will be released on 5 December 2017.

Additional details on forthcoming changes to the GFS quarterly publication as a result of AGFS15 implementation are covered in an Information Paper: Forthcoming Changes to the Quarterly Publication for Government Finance Statistics (cat. no. 5519.0.55.002) released on 5 September 2017.

The September quarter 2017 publication will also include additional commentary on the public sector measures of the National Accounts, including their contribution to changes in GDP.


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 20175 December 20176 December 2017
December 20176 March 20187 March 2018


INQUIRIES

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 email <public.finance@abs.gov.au>. The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to us.