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5519.0.55.001 - Government Finance Statistics, Australia, December Quarter 2014 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/03/2015   
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DECEMBER QUARTER 2014 KEY FIGURES: ALL LEVELS OF GOVERNMENT


In the December quarter 2014:

  • Taxation revenue increased 12.8% to $112,389m from $99,622m in the September quarter 2014.
  • General government sector expenses exceeded revenue resulting in a GFS net operating balance of –$7,046m.
  • The GFS net lending(+)/borrowing(–) position for the general government sector was –$11,757m.

GFS KEY FIGURES: ALL LEVELS OF GOVERNMENT, ORIGINAL

Sep Qtr 2014
Dec Qtr 2014
Sep Qtr 2014 to
Dec Qtr 2014
$m
$m
% change

Current Prices
Taxation revenue
General government
99 622
112 389
12.8
Total revenue
General government
125 387
138 750
10.7
Public non-financial corporations
19 950
20 207
1.3
Total expenses
General government
145 546
145 795
0.2
Public non-financial corporations
19 357
20 477
5.8
GFS Net operating balance
General government
–20 159
–7 046
. .
Public non-financial corporations
593
–270
. .
GFS Net lending(+)/borrowing(–)
General government
–22 823
–11 757
. .
Public non-financial corporations
–497
–2 319
. .

. . not applicable


QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES – KEY FIGURES

The table below includes the key public sector aggregates for the December 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 December quarter 2014:
  • In seasonally adjusted chain volume terms, total general government final consumption expenditure increased by $280m, a rise of 0.4% compared with the September quarter 2014.
  • In seasonally adjusted chain volume terms, total general government gross fixed capital formation decreased by 1.3% compared with the September quarter 2014.

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

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

Current Prices
General government final consumption expenditure (a)
National – defence
5 839
5 888
5 813
6 013
3.4
National – non-defence
22 212
22 096
22 495
22 405
–0.4
Total national
28 051
27 984
28 308
28 418
0.4
State and local
41 680
42 862
43 366
43 801
1.0
Total general government final consumption expenditure
69 731
70 846
71 674
72 219
0.8
Public gross fixed capital formation
General government
National – defence
1 656
1 667
1 211
1 625
34.2
National – non-defence
2 264
2 443
2 739
2 580
–5.8
Total national
3 920
4 110
3 951
4 205
6.4
State and local
9 600
9 955
9 057
8 639
–4.6
Total general government
13 520
14 065
13 007
12 844
–1.3
Public corporations
Commonwealth
1 374
1 611
1 260
1 078
–14.5
State and local
4 326
3 004
3 688
3 906
5.9
Total public corporations
5 700
4 615
4 947
4 983
0.7
Total public gross fixed capital formation
19 220
18 680
17 955
17 828
–0.7
Memorandum item
Net purchases of second-hand assets by public sector
558
–365
658
524
np

Chain Volume (b)
General government final consumption expenditure (a)
National – defence
5 651
5 639
5 550
5 723
3.1
National – non-defence
21 591
21 306
21 713
21 680
–0.2
Total national
27 242
26 945
27 263
27 403
0.5
State and local
41 811
42 361
42 757
42 898
0.3
Total general government final consumption expenditure
69 053
69 306
70 020
70 300
0.4
Public gross fixed capital formation
General government
National – defence
1 582
1 578
1 148
1 516
32.0
National – non-defence
2 272
2 460
2 754
2 602
–5.5
Total national
3 854
4 038
3 902
4 118
5.5
State and local
9 562
9 898
8 986
8 600
–4.3
Total general government
13 416
13 937
12 888
12 718
–1.3
Public corporations
Commonwealth
1 350
1 580
1 244
1 060
–14.7
State and local
4 269
2 961
3 672
3 865
5.3
Total public corporations
5 619
4 542
4 916
4 926
0.2
Total public gross fixed capital formation
19 035
18 479
17 804
17 644
–0.9
Memorandum item
Net purchases of second-hand assets by public sector
536
–316
624
491
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 2012–13.


DECEMBER 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 May 2015.

RELEASE OF QUARTERLY GFS THIS ISSUE

Table
Sep 14
Dec 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
*

ABOLITION OF THE CARBON TAX

The carbon tax repeal legislation received Royal Assent on Thursday, 17 July 2014 and the bills as part of this package are now law, with effect from 1 July 2014. The carbon tax repeal decreased taxation revenue on the GFS Commonwealth General Government operating statement by approximately $1.6b in the September 2014 quarter. Further information on the treatment of emissions schemes in ABS GFS data can be found in the ABS GFS Manual.


FUTURE CHANGES TO DATA CUBE FORMAT

Some minor table formatting changes to data cube will be introduced with the next release of this publication. The changes include the insertion of blank lines, formatting emphasis changes and clearer 'total' and 'sub-total' item descriptions to improve readability. Users who extract data from the data cube tables using Excel formulas or by other computerised means should review and adjust their processes as necessary. Some row numbers will change. These changes will also be applied to future releases of the annual publications catalogue number 5506.0 Taxation Revenue, Australia; catalogue number 5512.0 Government Finance Statistics, Australia and catalogue number 5518.0.55.001 Government Finance Statistics, Education, Australia. A sample of the new data cube format is available on the Downloads tab of this issue.


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
March 2015
June 2015
2 June 2015
1 September 2015
3 June 2015
2 September 2015


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 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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