Government Finance Statistics, Australia

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Statistics about finances of the general government and public non-financial corporations sectors for the various levels of government in Australia

Reference period
December 2023
Released
5/03/2024

Key statistics

In December quarter 2023:

  • general government net operating balance rose $12.0b to $2.2b, since September quarter 2023
  • taxation revenue rose 13.1% to $201.6b, since September quarter 2023
  • general government borrowing was $12.3b
  • total public demand is expected to contribute 0.1 ppt to the quarterly change in GDP

Unless indicated, all Government Finance Statistics figures presented in this publication are current prices, original series.

Included in this publication is an Insights into Government Finance Statistics, December 2023, which examines the key stories and economic narratives of the December quarter 2023 Government Finance Statistics data.

Government Finance Statistics measures

Government finance statistics fiscal measures
 Mar Qtr 2023Jun Qtr 2023Sep Qtr 2023Dec Qtr 2023Sep Qtr 2023 to
Dec Qtr 2023
$m$m$m$m% change
Taxation revenue 
 General government181,098224,024178,248201,59913.1%
Total revenue 
 General government222,869265,579219,868239,0318.7%
 Public non-financial corporations26,67327,98127,54926,729-3.0%
Total expenses 
 General government216,399233,702229,665236,7843.1%
 Public non-financial corporations25,44727,61527,42827,095-1.2%
GFS Net Operating Balance 
 General government6,47031,878-9,7962,247na
 Public non-financial corporations1,226367120-366na
GFS Net Lending (+)/Borrowing (-) 
 General government-5,6429,285-21,035-12,298na
 Public non-financial corporations-2,253-5,247-3,847-7,532na

na indicates this value not available for publication but included in totals where applicable, unless otherwise indicated

National accounts public sector measures

The table below includes the key public sector aggregates for December quarter 2023 which will be included in the Australian National Accounts: National Income, Expenditure and Product. The key figures shown include Total Public Demand, Government Final Consumption Expenditure for total general government and Gross Fixed Capital Formation for total general government and total public corporations, seasonally adjusted in current prices and chain volume terms.

The following are the seasonally adjusted chain volume measures based on the previous quarter (a):

  • public sector demand is expected to contribute 0.1 percentage points to the change in GDP in December quarter 2023
  • general government final consumption expenditure rose $741m (up 0.6%) and is expected to contribute 0.1 percentage points to the change in GDP in December quarter 2023
  • general government gross fixed capital formation fell $508m (down 2.1%)
  • public corporations gross fixed capital formation rose $433m (up 4.6%)
  • total public gross fixed capital formation fell $75m (down 0.2%) and is expected to contribute 0.0 percentage points to the change in GDP in December quarter 2023
  1. Contributions may not be additive due to rounding
Quarterly national accounts public sector measures, seasonally adjusted
   Mar Qtr 2023Jun Qtr 2023Sep Qtr 2023Dec Qtr 2023

Sep Qtr 2023

to

Dec Qtr 2023

          $m      $m       $m      $m% change
CURRENT PRICES
General government final consumption expenditure (a)
 National-defence11,604 11,866 12,601 12,325 -2.2
 National-non-defence53,127 53,884 55,112 56,827 3.1
 Total national64,731 65,750 67,713 69,152 2.1
 State and local72,724 73,906 76,077 77,380 1.7
 Total general government final consumption expenditure137,455 139,656 143,790 146,533 1.9
Public gross fixed capital formation 
 General government
  National-defence2,732 3,181 2,931 2,932 0.0
  National-non-defence2,561 2,642 2,862 2,956 3.3
  Total national5,292 5,823 5,793 5,888 1.6
  State and local19,767 21,519 21,197 20,842 -1.7
  Total general government25,060 27,342 26,990 26,731 -1.0
 Public corporations  
  Commonwealth2,395 2,718 3,218 3,168 -1.6
  State and local5,867 6,416 7,116 7,715 8.4
  Total public corporations8,263 9,134 10,334 10,883 5.3
 Total public gross fixed capital formation33,322 36,476 37,324 37,614 0.8
Total public demand170,777 176,131 181,114 184,147 1.7
Memorandum item
 Net purchases of second hand assets by public sector4611295709592-16.5
 Public authorities changes in inventories (c)817240-1197358na
 
CHAIN VOLUME (b)
General government final consumption expenditure
 National-defence10,844 10,984 11,515 11,106 -3.5
 National-non-defence50,973 51,339 51,636 52,686 2.0
 Total national61,817 62,323 63,151 63,792 1.0
 State and local68,764 69,005 70,123 70,223 0.1
 Total general government final consumption expenditure130,582 131,328 133,274 134,015 0.6
Public gross fixed capital formation
 General government
  National-defence2,508 2,845 2,606 2,555 -2.0
  National-non-defence2,459 2,488 2,693 2,748 2.0
  Total national4,967 5,334 5,298 5,302 0.1
  State and local18,146 19,484 19,057 18,546 -2.7
  Total general government23,112 24,818 24,356 23,848 -2.1
 Public corporations
  Commonwealth2,263 2,542 2,980 2,915 -2.2
  State and local5,483 5,945 6,531 7,029 7.6
  Total public corporations7,746 8,487 9,512 9,945 4.6
 Total public gross fixed capital formation30,858 33,305 33,868 33,793 -0.2
Total public demand161,439 164,633 167,141 167,808 0.4
Memorandum item
 Net purchases of second hand assets by public sector419 1,165 634 519 -18.2
 Public authorities changes in inventories (c)302 743 -1,530 1,117 na

na not available for publication but included in totals where applicable, unless otherwise indicated

  1. See explanatory notes for the relationship between general government final consumption expenditure and GFS aggregates Government Finance Statistics, Australia methodology, December 2023.
  2. Reference year for chain volume measures is 2021-22
  3. Includes general government, public non-financial corporations and public financial corporations

 

 

Public demand contribution to GDP growth

  1. Chain volume measures seasonally adjusted
  2. using the GDP series as published in the September 2023 release of Australian National Accounts: National Income, Expenditure and Product

Classification of government policies in Government Finance Statistics

The ABS continues to determine the appropriate classification for new government policies. These classifications are based on well-established conceptual frameworks, which ensure consistent recording of these policies across macroeconomic statistics, particularly in relation to Government Finance Statistics and the National Accounts (NA) (a). These frameworks are supported by international standards such as the International Monetary Fund (IMF) Government Finance Statistics Manual 2014 (GFSM 2014) and the System of National Accounts 2008 (2008 SNA).

The classification of government policies impacting the December quarter 2023 is provided in the table below, which summarises key policies with an impact on the GFS estimates and does not cover every specific government policy in Australia.

Types of policiesExamples of policiesClassification in Government Finance Statistics (GFS) and National Accounts
Increased healthcare and frontline services spending
WA Police Auxiliary Officers and Prison Officers wage increaseState: (b) Police Auxiliary Officers will receive a wage increase of $60 per week or 3 per cent per annum – whichever is greater – backpaid to 2 November 2022. Prison officers will receive a wage increase of $60 per week or 3 per cent with backpay to 11 June 2022 and a $3,000 cost of living payment (WA).GFS: Wages, salaries, and supplements, superannuation expenses NA: GDP (E) - Government final consumption expenditure; GDP(I) – Compensation of employees
Free shingles vaccine for nearly 5 million AustraliansCommonwealth: From 1 November, almost five million Australians who are at risk of severe disease from shingles can access a free Shingrix® vaccine under the National Immunisation Program.GFS: Social benefits to households in goods and services NA: GDP (E) – Government final consumption expenditure

a. NA includes the gross domestic product (GDP) accounts, which are measured using the expenditure approach (GDP (E)), the income approach (GDP (I)) or the production approach (GDP (P)).  NA also includes income accounts, capital accounts, financial accounts, and balance sheets

b. ‘States’ refers to the state sector in macroeconomic statistics which covers all eight state and territory jurisdictions in Australia

Revisions and changes

Revisions

Divergences with government fiscal reporting

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Government Finance Statistics, Australia

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