5519.0.55.001 - Government Finance Statistics, Australia, Dec 2016 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 28/02/2017   
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DECEMBER KEY FIGURES: ALL LEVELS OF GOVERNMENT


In the December quarter 2016:
  • Taxation revenue increased by 17.6% from $105,785m in the September quarter 2016 to $124,386m in the December quarter 2016.
  • General government sector expenses exceeded revenue resulting in a GFS net operating balance of -$2,115m.
  • The GFS net lending(+)/borrowing(-) position for the general government sector was -$9,078m.

Graph Image for ALL LEVELS OF GENERAL GOVERNMENT, GFS REVENUE AND EXPENSES
Graph Image for ALL LEVELS OF GENERAL GOVERNMENT, NET OPERATING BALANCE, NET LENDING BORROWING



GFS KEY FIGURES: ALL LEVELS OF GOVERNMENT, ORIGINAL

Sep Qtr
2016
Dec Qtr
2016
Sep Qtr 2016 to
Dec Qtr 2016
$m
$m
% change

Current Prices
Taxation revenue
General government
105 785
124 386
17.6
Total revenue
General government
135 964
151 061
11.1
Public non-financial corporations
20 108
20 617
2.5
Total expenses
General government
155 912
153 176
-1.8
Public non-financial corporations
20 358
21 120
3.7
GFS Net operating balance
General government
-19 948
-2 115
. .
Public non-financial corporations
-250
-502
. .
GFS Net lending(+)/borrowing(-)
General government
-22 193
-9 078
. .
Public non-financial corporations
-2 681
-1 688
. .

. . not applicable



QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES - KEY FIGURES

The table below includes the key public sector aggregates for the December quarter 2016 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 December quarter 2016:
  • In seasonally adjusted chain volume terms, total general government final consumption expenditure increased by $10m, remaining steady compared with the September quarter 2016.
  • In seasonally adjusted chain volume terms, total general government gross fixed capital formation increased by $965m, a rise of 7.2% compared with the September quarter 2016.
  • In seasonally adjusted chain volume terms, total public corporations gross fixed capital formation increased by $477m, a rise of 9.0% compared with the September quarter 2016.


Graph Image for KEY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES, SEASONALLY ADJUSTED


QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES - KEY FIGURES, SEASONALLY ADJUSTED

Mar Qtr
2016
Jun Qtr
2016
Sep Qtr
2016
Dec Qtr
2016
Sep Qtr 2016
to Dec Qtr 2016
$m
$m
$m
$m
% change

Current Prices
General government final consumption expenditure (a)
National - defence
6 804
6 632
7 093
6 540
-7.8
National - non-defence
24 900
26 063
25 799
26 533
2.8
Total national
31 703
32 696
32 892
33 073
0.6
State and local
46 655
47 742
47 530
47 507
-
Total general government final consumption expenditure
78 358
80 438
80 422
80 580
0.2
Public gross fixed capital formation
General government
National - defence
2 138
2 734
1 900
2 561
34.8
National - non-defence
2 107
2 299
2 295
2 386
3.9
Total national
4 245
5 034
4 195
4 946
17.9
State and local
8 867
10 226
9 230
9 507
3.0
Total general government
13 112
15 260
13 425
14 454
7.7
Public corporations
Commonwealth
1 367
1 406
1 440
2 021
40.4
State and local
3 692
3 868
3 967
3 862
-2.6
Total public corporations
5 059
5 274
5 407
5 883
8.8
Total public gross fixed capital formation
18 171
20 534
18 831
20 337
8.0
Memorandum item
Net purchases of second-hand assets by public sector
473
1 696
232
376
np

Chain Volume (b)
General government final consumption expenditure (a)
National - defence
6 559
6 371
6 743
6 189
-8.2
National - non-defence
24 358
25 573
25 469
25 864
1.5
Total national
30 917
31 944
32 212
32 053
-0.5
State and local
45 392
45 879
45 777
45 946
0.4
Total general government final consumption expenditure
76 309
77 823
77 989
77 999
-
Public gross fixed capital formation
General government
National - defence
2 022
2 628
1 877
2 518
34.2
National - non-defence
2 132
2 323
2 327
2 416
3.8
Total national
4 155
4 951
4 204
4 934
17.4
State and local
8 840
10 254
9 281
9 516
2.5
Total general government
12 995
15 205
13 485
14 450
7.2
Public corporations
Commonwealth
1 350
1 386
1 428
2 014
41
State and local
3 645
3 800
3 881
3 771
-2.8
Total public corporations
4 995
5 186
5 308
5 785
9.0
Total public gross fixed capital formation
17 989
20 391
18 793
20 235
7.7
Memorandum item
Net purchases of second-hand assets by public sector
466
1 698
231
361
np

np not available for publication but included in totals where applicable, unless otherwise indicated
– nil or rounded to zero (including null cells)
(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 2014-15.


DECEMBER 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.

Detailed quarterly GFS are released for the current financial year only, other than in the December 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 (2014-15) was released on 26 April 2016. Final annual GFS results for 2015-16 are scheduled for release by the ABS in April 2017.

RELEASE OF QUARTERLY GFS THIS ISSUE

Table
Sep 16
Dec 16
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
*

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.


TRANSACTIONS RELATED TO VISA APPLICATION CHARGES

In December 2015, the Commonwealth Government released the 2015-16 Mid-Year Economic and Fiscal Outlook (MYEFO) which included a reclassification of visa application charges (VAC). In MYEFO these charges are now treated as taxation revenue rather than sales of goods and services. This reclassification has been applied to the Government Finance Statistics (GFS), with no impact on total GFS revenue or the GFS net operating balance. The National Accounts statistics will maintain coherence with previously published data and classify this transaction as sales of goods and services. These treatments will remain in place until a review of the treatment of VAC and similar government charges in macroeconomic statistics has been completed.


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:

Issue5519.0.55.0015206.0
March 20176 June 20177 June 2017
June 20175 September 20176 September 2017


INQUIRIES

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