JUNE QUARTER 2015 KEY FIGURES: ALL LEVELS OF GOVERNMENT


In the June quarter 2015:

• Taxation revenue increased 5.8% to $118,906m from $112,362m in the March quarter 2015.
• General government sector expenses exceeded revenue resulting in a GFS net operating balance of –$2,901m.
• The GFS net lending(+)/borrowing(–) position for the general government sector was –$11,822m.

			Mar Qtr 2015	Jun Qtr 2015	Mar Qtr 2015 to Jun Qtr 2015
			$m	$m	% change
Current Prices
Taxation revenue
	General government		112 362	118 906	5.8
Total revenue
	General government		139 911	147 749	5.6
	Public non-financial corporations		20 464	20 240	–1.1
Total expenses
	General government		141 397	150 650	6.5
	Public non-financial corporations		20 286	22 454	10.7
GFS Net operating balance
	General government		–1 485	–2 901	. .
	Public non-financial corporations		177	–2 213	. .
GFS Net lending(+)/borrowing(–)
	General government		–4 362	–11 822	. .
	Public non-financial corporations		–1 125	–3 708	. .

. . not applicable


QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES – KEY FIGURES

The table below includes the key public sector aggregates for the June quarter 2015 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 2015:

• In seasonally adjusted chain volume terms, total general government final consumption expenditure increased by $1,586m, a rise of 2.2% compared with the March quarter 2015.
• In seasonally adjusted chain volume terms, total general government gross fixed capital formation increased by 11.0% compared with the March quarter 2015.

			Sep Qtr 2014	Dec Qtr 2014	Mar Qtr 2015	Jun Qtr 2015	Mar Qtr 2015 to Jun Qtr 2015
			$m	$m	$m	$m	% change
Current Prices
General government final consumption expenditure (a)
	National – defence		5 812	5 802	5 762	6 044	4.9
	National – non-defence		22 450	22 272	22 753	23 870	4.9
	Total national		28 262	28 075	28 514	29 913	4.9
	State and local		43 470	44 024	44 214	45 148	2.1
	Total general government final consumption expenditure		71 732	72 099	72 729	75 062	3.2
Public gross fixed capital formation
	General government
		National – defence	1 413	2 099	1 872	2 664	42.4
		National – non-defence	2 733	2 540	2 603	2 953	13.5
		Total national	4 146	4 639	4 474	5 618	25.6
		State and local	8 886	8 684	8 284	8 799	6.2
		Total general government	13 032	13 324	12 758	14 417	13.0
	Public corporations
		Commonwealth	1 201	1 160	1 649	1 195	–27.5
		State and local	3 787	3 813	3 696	3 547	–4.0
		Total public corporations	4 989	4 973	5 344	4 743	–11.3
	Total public gross fixed capital formation		18 021	18 296	18 103	19 160	5.8
Memorandum item
	Net purchases of second-hand assets by public sector		701	560	441	182	np
Chain Volume (b)
General government final consumption expenditure (a)
	National – defence		5 556	5 516	5 436	5 677	4.4
	National – non-defence		21 632	21 588	21 945	22 730	3.6
	Total national		27 187	27 104	27 381	28 408	3.7
	State and local		42 661	43 076	43 182	43 742	1.3
	Total general government final consumption expenditure		69 848	70 180	70 563	72 149	2.2
Public gross fixed capital formation
	General government
		National – defence	1 203	1 702	1 461	2 068	41.5
		National – non-defence	2 795	2 613	2 649	2 969	12.1
		Total national	3 998	4 314	4 110	5 037	22.6
		State and local	8 762	8 563	8 131	8 555	5.2
		Total general government	12 760	12 878	12 241	13 592	11.0
	Public corporations
		Commonwealth	1 190	1 143	1 598	1 133	–29.1
		State and local	3 760	3 761	3 648	3 461	–5.1
		Total public corporations	4 950	4 904	5 246	4 594	–12.4
	Total public gross fixed capital formation		17 711	17 782	17 487	18 186	4.0
Memorandum item
	Net purchases of second-hand assets by public sector		692	531	432	171	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.


JUNE QUARTER 2015 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 the annual publication Government Finance Statistics, Australia (cat. no. 5512.0). The latest issue (2013–14) was released on 13 May 2015. Final annual GFS results for 2014–15 are scheduled for release by the ABS in May 2016.

Table	Sep 14	Dec 14	Mar 15	Jun 15
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	*	*	*

TREATMENT OF THE EMISSION REDUCTION FUND IN GOVERNMENT FINANCE STATISTICS

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.

On 23 April 2015 the Commonwealth Government held the first reverse auction for carbon abatement contracts related to the Emission Reduction Fund. The fund has been established to purchase carbon abatement activity from private sector bidders. The first auction awarded contracts to the value of $660 million. Payments related to these contracts will be recognised in Government Finance Statistics as an operating expense of government when the abatement activity occurs.


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.


CHANGES TO DATA CUBE FORMAT

Some minor table formatting changes to the data cube have been introduced with the March Quarter 2015 release of this publication as indicated in the December Quarter 2014 release. 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 have changed.


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 2015	1 December 2015	2 December 2015
December 2015	1 March 2016	2 March 2016

INQUIRIES

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