Gross fixed capital formation is the value of acquisitions less disposals of new or existing fixed assets. Assets consist of tangible or intangible assets that have come into existence as outputs from processes of production, and that are themselves used repeatedly or continuously in other processes of production over periods of time longer than one year.
In 2003-04, total public gross fixed capital formation in Tasmania was $708 million, an increase of $37 million on the 2002-03 figure of $671 million.
Of the $708 million public gross fixed capital formation in 2003-04, some $391 million (55.2%) was from expenditure by public corporations and $317 million (44.8%) was from general government expenditure.
PUBLIC GROSS FIXED CAPITAL FORMATION, Tasmania(a)
|
 | 2000-01 | 2001-02 | 2002-03 | 2003-04 |
| | | | |
| $m | $m | $m | $m |
|
| Public corporations(b) | | | | |
| Commonwealth r | 70 | 71 | 62 | 67 |
| State and local r | 146 | 461 | 271 | 324 |
| Total r | 216 | 532 | 333 | 391 |
| | | | |
| General government | | | | |
| National r | 52 | 62 | 68 | 73 |
| State and local r | 227 | 260 | 270 | 244 |
| Total r | 279 | 322 | 338 | 317 |
| | | | |
| Total public gross fixed capital formation r | 495 | 855 | 671 | 708 |
r revised
(a) Current prices.
(b) Corporations in which Australian governments own a majority of the shares.
Source: Australian National Accounts: State Accounts (cat. no. 5220.0). |
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