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.

			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.

			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.

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:

Issue	5519.0.55.001	5206.0
March 2015 June 2015	2 June 2015 1 September 2015	3 June 2015 2 September 2015

INQUIRIES

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