JUNE QUARTER 2012 KEY FIGURES: ALL LEVELS OF GOVERNMENT


In the June quarter 2012:

• Taxation revenue increased 14.8% to $109,941m.
• General government sector expenditure exceeded revenue resulting in a GFS net operating balance of –$4,287m.
• The GFS net lending(+)/borrowing(–) position for the general government sector was –$14,976m.

			Mar Qtr 2012	Jun Qtr 2012	Mar Qtr 2012 to Jun Qtr 2012
			$m	$m	% change
Current Prices
Taxation revenue
	General government		95 755	109 941	14.8
Total revenue
	General government		118 837	134 902	13.5
	Public Non–Financial corporations		18 636	20 136	8.0
Total expenses
	General government		125 765	139 189	10.7
	Public Non–Financial corporations		17 787	20 811	17.0
GFS Net operating balance
	General government		–6 928	–4 287	..
	Public Non–Financial corporations		850	–675	..
GFS Net lending(+)/borrowing(–)
	General government		–10 632	–14 976	..
	Public Non–Financial corporations		–1 503	–3 879	..

. . not applicable

QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES – KEY FIGURES

The table below includes the key public sector aggregates for the June quarter 2012 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 June quarter 2012:

• In seasonally adjusted chain volume terms, total general government final consumption expenditure increased by $992m, a rise of 1.6% compared with March quarter 2012.
• Total general government gross fixed capital formation, in seasonally adjusted chain volume terms, decreased by 0.5%.

			Sep Qtr 2011	Dec Qtr 2011	Mar Qtr 2012	Jun Qtr 2012	Mar Qtr 2012 to Jun Qtr 2012
			$m	$m	$m	$m	% change
Current Prices
General government final consumption expenditure (a)			5 955	6 255	6 422	6 480	0.9
	National – defence		18 610	19 329	19 258	19 986	3.8
	National – non-defence		24 565	25 584	25 680	26 467	3.1
	Total national		38 709	38 948	39 381	40 144	1.9
	State and local
	Total general government final consumption expenditure		63 273	64 532	65 062	66 610	2.4
Public gross fixed capital formation
	General government
		National – defence	2 190	2 019	2 112	2 321	9.9
		National – non–defence	2 532	2 671	2 990	2 160	–27.7
		Total national	4 722	4 690	5 101	4 481	–12.2
		State and local	8 691	8 801	8 636	9 192	6.4
		Total general government	13 413	13 491	13 737	13 673	–0.5
	Public corporations
		Commonwealth	603	546	775	872	12.6
		State and local	5 025	4 933	5 025	5 615	11.7
		Total public corporations	5 628	5 480	5 799	6 487	11.9
	Total public gross fixed capital formation		19 041	18 970	19 537	20 160	3.2
Memorandum item
	Net purchases of second–hand assets by public sector		–175	–219	–239	–1 040	. .
Chain Volume (b)
General government final consumption expenditure (a)
	National – defence		5 846	6 115	6 278	6 326	0.8
	National – non-defence		18 195	18 577	18 497	18 981	2.6
	Total national		24 042	24 692	24 775	25 307	2.1
	State and local		36 820	36 769	36 974	37 434	1.2
	Total general government final consumption expenditure		60 861	61 460	61 749	62 741	1.6
Public gross fixed capital formation
	General government
		National – defence	2 463	2 302	2 408	2 665	10.7
		National – non-defence	2 650	2 844	3 148	2 315	–26.5
		Total national	5 113	5 146	5 556	4 980	–10.4
		State and local	8 579	8 701	8 542	9 048	5.9
		Total general government	13 692	13 847	14 098	14 028	–0.5
	Public corporations
		Commonwealth	619	556	784	882	12.5
		State and local	4 924	4 787	4 866	5 398	10.9
		Total public corporations	5 543	5 343	5 650	6 280	11.1
	Total public gross fixed capital formation		19 235	19 190	19 749	20 308	2.8
Memorandum item
	Net purchases of second–hand assets by public sector		–168	–111	–213	–537	. .

. . not applicable
(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 2009–10.


JUNE QUARTER 2012 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 (2010–11) was released on 17 April 2012. Final annual GFS results for 2011–12 are scheduled for release by the ABS in April 2013.

Table	Sep 11	Dec 11	Mar 12	Jun 12
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	*	*	*

EMISSIONS REDUCTION SCHEMES

On 1 July 2012, the Australian Government introduced a $23 per tonne carbon price on greenhouse emissions to be paid by Australia's largest greenhouse gas emitting companies. The Australian Bureau of Statistics (ABS) released an Information Paper: Recording Emissions Reduction Schemes in ABS Statistics (cat. no. 5257.0.55.001) on 30 July 2012. This information paper summarises the nature of emissions permit measures introduced under the Clean Energy Act 2011 as well as the other greenhouse gas schemes currently in operation in Australia (including the Commonwealth Renewable Energy Target (RET) and the Carbon Farming Initiative), and how the ABS expects to include estimates of these schemes in economic and environment statistics, commencing with the September quarter 2012.

In Government Finance Statistics, Australia, Quarterly (cat. no. 5519.0.55.001), from September quarter 2012 onwards:

• Clean Energy Act permits issued for free and Renewable Energy Certificates (RECs) issued under the RET in each reference period will be recorded as either a capital transfer or a subsidy. A capital transfer is recorded when permits are received on a one–off or irregular basis and are tied to the recipient having to acquire capital assets. A subsidy is recorded where permits are received on an ongoing basis.
  • For General Government, Capital transfers and Subsidy expenses are recorded in Table 1 All Levels of Government, Operating Statement – General Government and Table 3 Commonwealth Government, Operating Statement – General Government.
  • For recipient General Government and Public Corporations, Current grants and subsidies revenue are recorded in all the relevant tables.

• In the period of the emissions event a tax on production will be recorded for entities liable under the Clean Energy Act. The surrender of RECs by wholesale purchasers of electricity to meet their proportion of the RET will also be recorded as a tax on production in the period of the emissions event.
  • For General Government, taxation revenue is recorded in Table 1 All Levels of Government, Operating Statement - General Government and Table 3 Commonwealth Government, Operating Statement – General Government.
  • For liable General Government and Public Corporations, tax expenses are recorded as other current transfers in all relevant tables.
    
    

Australian System of Government Finance Statistics: Concepts, Sources and Methods (cat. no. 5514.0) will be updated to reflect the ABS implementation of emission reduction schemes in GFS prior to the September qtr 2012 release.


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 2012 December 2012	4 December 2012 5 March 2013	5 December 2012 6 March 2013

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 Jon Shaw on Brisbane (07) 3222 6054, email <public.finance@abs.gov.au>