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ABOUT THIS ELECTRONIC RELEASE

This electronic release presents quarterly government finance statistics (GFS) on an accrual accounting basis.

All tables are presented in GFS Operating Statement format and, with the exception of Table 2, present data for the general government sector.

In this issue, data for the operating statement for the Commonwealth general government (GG) for the June quarter 2004 (Table 3) are not shown because it would be in advance of the release of the Final Budget Outcome Statement for 2003-04. However, Commonwealth GG data for June quarter 2004 are included in the All levels of government table (Table 1).

Tables 1, 2 and 4 provide quarterly GFS to June quarter 2004. The remaining tables show Commonwealth GFS, and for each state and territory, total state and local quarterly GFS to March quarter 2004. The September quarter 2004 release will contain the June quarter data for the individual state and local tables, and for the Commonwealth.

The September quarter 2004 issue is expected to be released on 30 November 2004 and the December quarter 2004 issue on 1 March 2005, one day before the release of the September quarter and December quarter 2004 National Accounts publications respectively. Users should check the ABS Release Advice closer to the date for confirmation of the release date.

The contact officer for this release is Fleming Gilfelt on Canberra (02) 6252 7501.


JUNE QUARTER 2004 KEY FIGURES: ALL LEVELS OF GOVERNMENT

June quarter 2003 to June quarter 2004 movements -

• In original terms, taxation revenue (GFS basis - see Explanatory Notes, paragraph 40) rose $4,057m to $70,169m, an increase of 6.1 per cent.

• In original terms, taxation revenue rose $6,519m to $70,169m, due mainly to increases in taxes on individuals and enterprises.
• The general government GFS Net operating balance, in original terms, fell $4,456m to $2,898m.
• In original terms, general government GFS Net lending/borrowing moved to a net borrowing position with a decrease of $6,580m to -$104m.

	2002-03 (a) $m	2003-04 (a) $m		Jun qtr 2003 $m	Mar qtr 2004 $m	Jun qtr 2004 $m	change Jun qtr 2003 to Jun qtr 2004 %
Taxation revenue
General government	237,477	256,411		66,112	63,650	70,169	6.1
Total revenue
Government government	286,586	310,084		78,887	76,923	83,474	5.8
Public non financial corporations	59,653	61,456		15,358	14,738	15,733	2.4
Total expenses
General government	275,120	292,878		70,956	69,569	80,576	13.6
Public non financial corporations	57,815	56,469		14,558	14,542	13,564	-6.8
GFS Net operating balance
General government	11,467	17,206		7,931	7,354	2,898	..
Public non financial corporations	1,839	4,988		799	197	2,169	..
GFS Net lending(+)/borrowing(-)
General government	8,425	11,568		6,960	6,476	-104	..
Public non financial corporations	-687	1,818		-532	-236	502	..

• In seasonally adjusted chain volume terms, total general government final consumption expenditure rose $687m (1.9%) in June quarter 2004 to $35,952m.
• General government gross fixed capital formation, in seasonally adjusted chain volume terms, rose $234m (5.1%) in June quarter 2004 to $4,800m.
• The largest public asset sales recorded during the June 2004 quarter were two FM radio licences in Sydney and Brisbane. They are classified as sales by Commonwealth general government of intangible non produced assets and as a consequence are not included in the gross fixed capital formation estimates.

QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES - KEY FIGURES, SEASONALLY ADJUSTED
				Mar qtr 2004	Jun qtr 2004	change Mar
						qtr 2004 to
						Jun qtr 2004
				$m	$m	%
Current prices
General government final consumption expenditure(a)
	National
		Defence		3,327	3,451	3.7
		Non defence		10,966	11,467	4.6
	State and local			22,385	23,104	3.2
	Total general government			36,678	38,021	3.7
Gross fixed capital formation
	General Government			4,488	4,790	6.7
	Public corporations			2,851	2,902	1.8
Chain volume (b)
General government final consumption expenditure(a)
	National
		Defence		3,451	3,596	4.2
		Non defence		10,426	10,650	2.1
	State and local			21,389	21,706	1.5
	Total general government			35,265	35,952	1.9
Gross fixed capital formation
	General government			4,566	4,800	5.1
	Public corporations			2,868	2,909	1.4