JUNE KEY FIGURES: ALL LEVELS OF GOVERNMENT


In the June quarter 2017:

• Taxation revenue increased by 10.8% from $121,778m in the March quarter 2017 to $134,883m in the June quarter 2017.
• General government sector revenue exceeded expenses resulting in a GFS net operating balance of $7,792m.
• The GFS net lending(+)/borrowing(-) position for the general government sector was -$5,579m.

			Mar Qtr 2017	Jun Qtr 2017	Mar Qtr 2017 to Jun Qtr 2017
			$m	$m	% change
Current Prices
Taxation revenue
	General government		121 778	134 883	10.8
Total revenue
	General government		152 178	167 684	10.2
	Public non-financial corporations		19 215	20 077	4.5
Total expenses
	General government		152 872	159 892	4.6
	Public non-financial corporations		19 921	21 965	10.3
GFS Net operating balance
	General government		–694	7 792	. .
	Public non-financial corporations		–706	–1 887	. .
GFS Net lending(+)/borrowing(-)
	General government		–5 114	–5 579	. .
	Public non-financial corporations		–3 512	–6 053	. .

. . not applicable



QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES - KEY FIGURES

The table below includes the key public sector aggregates for the June 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 June quarter 2017:

• Total general government final consumption expenditure increased by $946m, a rise of 1.2% compared with the March quarter 2017.
• Total general government gross fixed capital formation increased by $2,984m, a rise of 19.7% compared with the March quarter 2017.
• Total public corporations gross fixed capital formation decreased by $481m, a drop of 8.1% compared with the March quarter 2017.

			Sep Qtr 2016	Dec Qtr 2016	Mar Qtr 2016	Jun Qtr 2017	Mar Qtr 2017 to Jun Qtr 2017
			$m	$m	$m	$m	% change
Current Prices
General government final consumption expenditure (a)
	National - defence		7 086	6 703	6 741	6 970	3.4
	National - non-defence		26 462	26 867	27 010	27 416	1.5
	Total national		33 549	33 569	33 751	34 387	1.9
	State and local		47 399	47 499	48 862	50 057	2.4
	Total general government final consumption expenditure		80 948	81 068	82 613	84 444	2.2
Public gross fixed capital formation
	General government
		National - defence	1 826	2 346	2 283	2 961	29.7
		National - non-defence	2 270	2 374	2 339	2 038	-12.9
		Total national	4 095	4 720	4 622	4 999	8.2
		State and local	9 533	9 644	10 615	13 418	26.4
		Total general government	13 629	14 364	15 237	18 418	20.9
	Public corporations
		Commonwealth	1 463	2 165	1 823	1 956	7.3
		State and local	3 946	5 185	4 262	3 635	-14.7
		Total public corporations	5 410	7 350	6 085	5 591	-8.1
	Total public gross fixed capital formation		19 038	21 715	21 322	24 009	12.6
Memorandum item
	Net purchases of second-hand assets by public sector		333	1 867	1 728	3 119	np
Chain Volume (b)
General government final consumption expenditure (a)
	National - defence		6 733	6 337	6 313	6 491	2.8
	National - non-defence		25 888	26 060	26 230	26 349	0.5
	Total national		32 621	32 397	32 543	32 840	0.9
	State and local		45 708	45 922	46 590	47 239	1.4
	Total general government final consumption expenditure		78 329	78 319	79 133	80 079	1.2
Public gross fixed capital formation
	General government
		National - defence	1 790	2 285	2 217	2 800	26.3
		National - non-defence	2 280	2 371	2 332	2 027	-13.1
		Total national	4 070	4 656	4 549	4 827	6.1
		State and local	9 592	9 667	10 615	13 321	25.5
		Total general government	13 662	14 323	15 164	18 148	19.7
	Public corporations
		Commonwealth	1 453	2 156	1 785	1 902	6.6
		State and local	3 877	5 051	4 129	3 531	-14.5
		Total public corporations	5 330	7 207	5 914	5 433	-8.1
	Total public gross fixed capital formation		18 992	21 529	21 078	23 581	11.9
Memorandum item
	Net purchases of second-hand assets by public sector		332	1 779	1 691	3 008	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 2014-15.


JUNE 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.

Table		Sep 16	Dec 16	Mar 17	Jun 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 CHANGES TO GOVERNMENT FINANCE STATISTICS

The new Australian System of Government Finance Statistics 2015 (AGFS15) will be effective for all GFS data that is reported from 1 July 2017 onwards, beginning with the September quarter 2017 publication that will be released on 5 December 2017.

Additional details on forthcoming changes to the GFS quarterly publication as a result of AGFS15 implementation are covered in an Information Paper: Forthcoming Changes to the Quarterly Publication for Government Finance Statistics (cat. no. 5519.0.55.002) released on 5 September 2017.

The September quarter 2017 publication will also include additional commentary on the public sector measures of the National Accounts, including their contribution to changes in GDP.


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
September 2017	5 December 2017	6 December 2017
December 2017	6 March 2018	7 March 2018

INQUIRIES

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