5519.0.55.001 - Government Finance Statistics, Australia, Mar 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 06/06/2017   
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MARCH KEY FIGURES: ALL LEVELS OF GOVERNMENT


In the March quarter 2017:
  • Taxation revenue decreased by 2.0% from $124,403m in the December quarter 2016 to $121,914m in the March quarter 2017.
  • General government sector expenses exceeded revenue resulting in a GFS net operating balance of -$716m.
  • The GFS net lending(+)/borrowing(-) position for the general government sector was -$5,223m.

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

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

Current Prices
Taxation revenue
General government
124 403
121 914
-2.0
Total revenue
General government
151 956
152 014
-
Public non-financial corporations
20 537
19 203
-6.5
Total expenses
General government
153 003
152 730
-0.2
Public non-financial corporations
21 237
19 816
-6.7
GFS Net operating balance
General government
-1 048
-716
. .
Public non-financial corporations
-700
-612
. .
GFS Net lending(+)/borrowing(-)
General government
-8 072
-5 223
. .
Public non-financial corporations
-3 409
-3 519
. .

. . not applicable



QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES - KEY FIGURES

The table below includes the key public sector aggregates for the March 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 March quarter 2017:
  • Total general government final consumption expenditure increased by $789m, a rise of 1.0% compared with the December quarter 2016.
  • Total general government gross fixed capital formation increased by $942m, a rise of 6.5% compared with the December quarter 2016.
  • Total public corporations gross fixed capital formation decreased by $1,523m, a drop of 20.9% compared with the December quarter 2016.


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


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

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

Current Prices
General government final consumption expenditure (a)
National - defence
6 630
7 098
6 552
6 707
2.4
National - non-defence
26 693
26 208
26 587
26 674
0.3
Total national
33 323
33 305
33 140
33 381
0.7
State and local
47 480
47 193
47 179
48 367
2.5
Total general government final consumption expenditure
80 803
80 498
80 318
81 748
1.8
Public gross fixed capital formation
General government
National - defence
2 728
1 829
2 355
2 301
-2.3
National - non-defence
2 297
2 292
2 400
2 382
-0.8
Total national
5 025
4 120
4 756
4 683
-1.5
State and local
10 463
9 565
9 659
10 687
10.6
Total general government
15 488
13 686
14 415
15 370
6.6
Public corporations
Commonwealth
1 403
1 449
2 159
1 821
-15.7
State and local
3 858
3 940
5 309
4 132
-22.2
Total public corporations
5 261
5 389
7 468
5 953
-20.3
Total public gross fixed capital formation
20 749
19 074
21 883
21 323
-2.6
Memorandum item
Net purchases of second-hand assets by public sector
1 628
432
2 034
1 738
np

Chain Volume (b)
General government final consumption expenditure (a)
National - defence
6 361
6 757
6 191
6 270
1.3
National - non-defence
25 998
25 711
25 880
26 030
0.6
Total national
32 359
32 468
32 070
32 300
0.7
State and local
45 762
45 629
45 785
46 344
1.2
Total general government final consumption expenditure
78 121
78 098
77 855
78 644
1.0
Public gross fixed capital formation
General government
National - defence
2 621
1 811
2 328
2 277
-2.2
National - non-defence
2 320
2 323
2 430
2 416
-0.6
Total national
4 941
4 134
4 757
4 692
-1.4
State and local
10 491
9 617
9 669
10 675
10.4
Total general government
15 432
13 750
14 426
15 368
6.5
Public corporations
Commonwealth
1 383
1 438
2 149
1 783
-17.0
State and local
3 787
3 851
5 143
3 986
-22.5
Total public corporations
5 171
5 290
7 291
5 768
-20.9
Total public gross fixed capital formation
20 603
19 040
21 717
21 136
-2.7
Memorandum item
Net purchases of second-hand assets by public sector
1 631
429
1 929
1 698
np

np not available for publication but included in totals where applicable, unless otherwise indicated
– nil or rounded to zero (including null cells)
(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.


MARCH 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
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 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
June 20175 September 20176 September 2017
September 20175 December 20176 December 2017


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.