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5519.0.55.001 - Government Finance Statistics, Australia, June Quarter 2015 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 01/09/2015 Released Today  
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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.

GFS KEY FIGURES: ALL LEVELS OF GOVERNMENT, ORIGINAL

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.

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

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.

RELEASE OF QUARTERLY GFS THIS ISSUE

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:

Issue5519.0.55.0015206.0
September 20151 December 20152 December 2015
December 20151 March 20162 March 2016


INQUIRIES

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 Public Finance on (07) 3222 6414, email <public.finance@abs.gov.au>. The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to us.


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Commonwealth of Australia 2015

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