Note: Republished on 4/3/2008 at 12:57pm to correct an error in Main Features. The movement in the general government gross fixed capital formation, in seasonally adjusted chain volume terms, was incorrectly described as a 7.8% decrease. This should have been described as a 7.8% increase.

DECEMBER QUARTER 2007 KEY FIGURES: ALL LEVELS OF GOVERNMENT

September quarter 2007 to December quarter 2007 movements (in original terms) -

• Taxation revenue increased by 18.7% to $90,114m.
• The GFS net operating balance for the general government sector increased to $11,109m.
• The GFS net lending(+)/borrowing(-) position for the general government sector increased to a net lending position of $7,355m.

			Sep Qtr 2007	Dec Qtr 2007	Sep Qtr 2007 to Dec Qtr 2007
			$m	$m	% change
Current Prices
Taxation revenue
	General government		75,907	90,114	18.7
Total revenue
	General government		94,100	106,385	13.1
	Public Non-Financial corporations		13,294	13,650	2.7
Total expenses
	General government		91,833	95,276	3.7
	Public Non-Financial corporations		11,804	12,659	7.2
GFS Net operating balance
	General government		2,267	11,109	..
	Public Non-Financial corporations		1,490	991	..
GFS Net lending(+)/borrowing(-)
	General government		288	7,355	..
	Public Non-Financial corporations		-1,335	-2,293	..

QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES - KEY FIGURES

The table below includes the key public sector aggregates for the December quarter 2007 from the national accounts publication. The key figures shown include Government Final Consumption Expenditure and Gross Fixed Capital Formation for general government and public corporations, seasonally adjusted for current prices and in chain volume terms.

• In seasonally adjusted chain volume terms, total general government final consumption expenditure increased by 1.7% in the December quarter 2007.
• General government gross fixed capital formation, in seasonally adjusted chain volume terms, increased by 7.8% in the December quarter 2007.

			Sep Qtr 2007	Dec Qtr 2007	Sep Qtr 2007 to Dec Qtr 2007
			$m	$m	% change
Current Prices
General government final consumption expenditure (a)
	National - defence		4,212	4,642	10.2
	National - non-defence		15,068	15,531	3.1
	Total national		19,280	20,174	4.6
	State and local		30,815	31,186	1.2
	Total general government final consumption expenditure		50,095	51,360	2.5
Public gross fixed capital formation
	General government
		National - defence	478	463	-3.2
		National - non-defence	1,006	1,029	2.3
		Total national	1,484	1,491	0.5
		State and local	5,083	5,648	11.1
		Total general government	6,567	7,139	8.7
	Public corporations
		Commonwealth	249	267	7.4
		State and local	4,522	4,573	1.1
		Total public corporations	4,771	4,840	1.5
	Total public gross fixed capital formation		11,337	11,979	5.7
Memorandum item
	Net purchases of second-hand assets by public sector		-226	-244	..
Chain Volume (b)
General government final consumption expenditure (a)
	National - defence		3,981	4,358	9.4
	National - non-defence		14,021	14,242	1.6
	Total national		18,002	18,599	3.3
	State and local		27,727	27,910	0.7
	Total general government final consumption expenditure		45,729	46,510	1.7
Public gross fixed capital formation
	General government
		National - defence	476	467	-1.9
		National - non-defence	1,028	1,049	2.1
		Total national	1,504	1,517	0.8
		State and local	4,896	5,379	9.9
		Total general government	6,400	6,896	7.8
	Public corporations
		Commonwealth	225	242	7.6
		State and local	4,194	4,275	1.9
		Total public corporations	4,419	4,517	2.2
	Total public gross fixed capital formation		10,819	11,413	5.5
Memorandum item
	Net purchases of second-hand assets by public sector		-222	-240	. .

(a) See paragraph 32 of the Explanatory Notes for the relationship between general government final consumption expenditure and GFS aggregates.
(b) Reference year for chain volume measures is 2005-06.


DECEMBER QUARTER 2007 GFS RELEASE

This release presents quarterly government finance statistics (GFS) 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 (2005-06) was released on 3 April 2007. Final annual GFS results for 2006-07 are scheduled for release by the ABS on 15 April 2008.

Table	Sep 07	Dec 07
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	*

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 December quarter 2007 and March quarter 2008 issues are:

Issue	5519.0.55.001	5206.0
March 2007	3 June 2008	4 June 2008
June 2008 September 2008 December 2008	2 September 2008 2 December 2008 3 March 2008	3 September 2008 December 2008 March 2009

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 Glynis Orrell on Canberra (02) 6252 5735, email <public.finance@abs.gov.au>.