JUNE QUARTER 2014 KEY FIGURES: ALL LEVELS OF GOVERNMENT


In the June quarter 2014:

• Taxation revenue increased 4.7% to $117,563m from $112,253m in the March quarter 2014.
• General government sector revenue exceeded expenditure resulting in a GFS net operating balance of $1,964m.
• The GFS net lending(+)/borrowing(–) position for the general government sector was –$7,418m.

			Mar Qtr 2014	Jun Qtr 2014	Mar Qtr 2014 to Jun Qtr 2014
			$m	$m	% change
Current Prices
Taxation revenue
	General government		112 253	117 563	4.7
Total revenue
	General government		137 453	147 353	7.2
	Public Non–Financial corporations		19 904	21 198	6.5
Total expenses
	General government		138 552	145 389	4.9
	Public Non–Financial corporations		20 026	23 698	18.3
GFS Net operating balance
	General government		–1 098	1 964	. .
	Public Non–Financial corporations		–122	–2 500	. .
GFS Net lending(+)/borrowing(–)
	General government		–4 444	–7 418	. .
	Public Non–Financial corporations		–1 886	–4 426	. .

. . not applicable


QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES – KEY FIGURES

The table below includes the key public sector aggregates for the June 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 June quarter 2014:

• In seasonally adjusted chain volume terms, total general government final consumption expenditure increased by $184m, a rise of 0.3% compared with the March quarter 2014.
• In seasonally adjusted chain volume terms, total general government gross fixed capital formation increased by 6.0% compared with the March quarter 2014.

			Sep Qtr 2013	Dec Qtr 2013	Mar Qtr 2014	Jun Qtr 2014	Mar Qtr 2014 to Jun Qtr 2014
			$m	$m	$m	$m	% change
Current Prices
General government final consumption expenditure (a)
	National – defence		5 458	5 551	5 795	5 833	0.7
	National – non-defence		22 109	22 202	22 270	22 123	–0.7
	Total national		27 567	27 753	28 064	27 956	–0.4
	State and local		41 790	42 356	41 910	42 773	2.1
	Total general government final consumption expenditure		69 357	70 109	69 974	70 730	1.1
Public gross fixed capital formation
	General government
		National – defence	1 569	1 702	1 448	1 570	8.4
		National – non–defence	2 133	2 113	2 064	2 172	5.2
		Total national	3 702	3 814	3 511	3 742	6.6
		State and local	7 987	8 504	8 922	9 463	6.1
		Total general government	11 689	12 319	12 433	13 205	6.2
	Public corporations
		Commonwealth	1 493	1 367	1 322	1 474	11.5
		State and local	4 727	5 613	4 399	2 795	–36.5
		Total public corporations	6 221	6 979	5 721	4 269	–25.4
	Total public gross fixed capital formation		17 910	19 298	18 154	17 474	–3.7
Memorandum item
	Net purchases of second–hand assets by public sector		790	1 501	575	–577	np
Chain Volume (b)
General government final consumption expenditure (a)
	National – defence		5 279	5 348	5 553	5 559	0.1
	National – non-defence		21 563	21 493	21 653	21 452	–0.9
	Total national		26 842	26 841	27 207	27 011	–0.7
	State and local		41 132	41 324	41 199	41 579	0.9
	Total general government final consumption expenditure		67 975	68 165	68 406	68 590	0.3
Public gross fixed capital formation
	General government
		National – defence	1 649	1 789	1 587	1 683	6.0
		National – non-defence	2 144	2 140	2 076	2 228	7.3
		Total national	3 792	3 929	3 663	3 911	6.8
		State and local	7 858	8 327	8 699	9 196	5.7
		Total general government	11 650	12 256	12 361	13 107	6.0
	Public corporations
		Commonwealth	1 490	1 369	1 320	1 470	11.4
		State and local	4 598	5 457	4 259	2 666	–37.4
		Total public corporations	6 088	6 826	5 579	4 136	–25.9
	Total public gross fixed capital formation		17 738	19 081	17 940	17 243	–3.9
Memorandum item
	Net purchases of second–hand assets by public sector		792	1 522	569	–645	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 2011–12.


JUNE 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 April 2015.

Table		Sep 13	Dec 13	Mar 14	Jun 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		*	*	*

PAYMENT TO THE RESERVE BANK OF AUSTRALIA

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 differ from accounting standards.

On 23 October 2013 the Treasurer announced that the Commonwealth Government would make a one-off $8.8 billion payment to the Reserve Bank of Australia (RBA). The intended purpose of the transaction is to ensure that the RBA has adequate funds to conduct monetary policy and foreign exchange operations. This payment was made in the June quarter 2014. In macroeconomic statistics, this payment is recorded as a financing transaction and is not included in the operating statement.

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 2014 December 2014	2 December 2014 3 March 2015	3 December 2014 4 March 2015

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