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5519.0.55.001 - Government Finance Statistics, Australia, June Quarter 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/09/2012   
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JUNE QUARTER 2012 KEY FIGURES: ALL LEVELS OF GOVERNMENT


In the June quarter 2012:

  • Taxation revenue increased 14.8% to $109,941m.
  • General government sector expenditure exceeded revenue resulting in a GFS net operating balance of –$4,287m.
  • The GFS net lending(+)/borrowing(–) position for the general government sector was –$14,976m.

GFS KEY FIGURES: ALL LEVELS OF GOVERNMENT, ORIGINAL

Mar Qtr 2012
Jun Qtr 2012
Mar Qtr 2012 to
Jun Qtr 2012
$m
$m
% change

Current Prices
Taxation revenue
General government
95 755
109 941
14.8
Total revenue
General government
118 837
134 902
13.5
Public Non–Financial corporations
18 636
20 136
8.0
Total expenses
General government
125 765
139 189
10.7
Public Non–Financial corporations
17 787
20 811
17.0
GFS Net operating balance
General government
–6 928
–4 287
..
Public Non–Financial corporations
850
–675
..
GFS Net lending(+)/borrowing(–)
General government
–10 632
–14 976
..
Public Non–Financial corporations
–1 503
–3 879
..

. . not applicable

QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES – KEY FIGURES

The table below includes the key public sector aggregates for the June quarter 2012 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 2012:
  • In seasonally adjusted chain volume terms, total general government final consumption expenditure increased by $992m, a rise of 1.6% compared with March quarter 2012.
  • Total general government gross fixed capital formation, in seasonally adjusted chain volume terms, decreased by 0.5%.

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

Sep Qtr
2011
Dec Qtr
2011
Mar Qtr
2012
Jun Qtr
2012
Mar Qtr 2012 to
Jun Qtr 2012
$m
$m
$m
$m
% change

Current Prices
General government final consumption expenditure (a)
5 955
6 255
6 422
6 480
0.9
National – defence
18 610
19 329
19 258
19 986
3.8
National – non-defence
24 565
25 584
25 680
26 467
3.1
Total national
38 709
38 948
39 381
40 144
1.9
State and local
Total general government final consumption expenditure
63 273
64 532
65 062
66 610
2.4
Public gross fixed capital formation
General government
National – defence
2 190
2 019
2 112
2 321
9.9
National – non–defence
2 532
2 671
2 990
2 160
–27.7
Total national
4 722
4 690
5 101
4 481
–12.2
State and local
8 691
8 801
8 636
9 192
6.4
Total general government
13 413
13 491
13 737
13 673
–0.5
Public corporations
Commonwealth
603
546
775
872
12.6
State and local
5 025
4 933
5 025
5 615
11.7
Total public corporations
5 628
5 480
5 799
6 487
11.9
Total public gross fixed capital formation
19 041
18 970
19 537
20 160
3.2
Memorandum item
Net purchases of second–hand assets by public sector
–175
–219
–239
–1 040
. .

Chain Volume (b)
General government final consumption expenditure (a)
National – defence
5 846
6 115
6 278
6 326
0.8
National – non-defence
18 195
18 577
18 497
18 981
2.6
Total national
24 042
24 692
24 775
25 307
2.1
State and local
36 820
36 769
36 974
37 434
1.2
Total general government final consumption expenditure
60 861
61 460
61 749
62 741
1.6
Public gross fixed capital formation
General government
National – defence
2 463
2 302
2 408
2 665
10.7
National – non-defence
2 650
2 844
3 148
2 315
–26.5
Total national
5 113
5 146
5 556
4 980
–10.4
State and local
8 579
8 701
8 542
9 048
5.9
Total general government
13 692
13 847
14 098
14 028
–0.5
Public corporations
Commonwealth
619
556
784
882
12.5
State and local
4 924
4 787
4 866
5 398
10.9
Total public corporations
5 543
5 343
5 650
6 280
11.1
Total public gross fixed capital formation
19 235
19 190
19 749
20 308
2.8
Memorandum item
Net purchases of second–hand assets by public sector
–168
–111
–213
–537
. .

. . not applicable
(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 2009–10.


JUNE QUARTER 2012 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 (2010–11) was released on 17 April 2012. Final annual GFS results for 2011–12 are scheduled for release by the ABS in April 2013.

RELEASE OF QUARTERLY GFS THIS ISSUE

Table
Sep 11
Dec 11
Mar 12
Jun 12
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
*
*
*

EMISSIONS REDUCTION SCHEMES

On 1 July 2012, the Australian Government introduced a $23 per tonne carbon price on greenhouse emissions to be paid by Australia's largest greenhouse gas emitting companies. The Australian Bureau of Statistics (ABS) released an Information Paper: Recording Emissions Reduction Schemes in ABS Statistics (cat. no. 5257.0.55.001) on 30 July 2012. This information paper summarises the nature of emissions permit measures introduced under the Clean Energy Act 2011 as well as the other greenhouse gas schemes currently in operation in Australia (including the Commonwealth Renewable Energy Target (RET) and the Carbon Farming Initiative), and how the ABS expects to include estimates of these schemes in economic and environment statistics, commencing with the September quarter 2012.

In Government Finance Statistics, Australia, Quarterly (cat. no. 5519.0.55.001), from September quarter 2012 onwards:
  • Clean Energy Act permits issued for free and Renewable Energy Certificates (RECs) issued under the RET in each reference period will be recorded as either a capital transfer or a subsidy. A capital transfer is recorded when permits are received on a one–off or irregular basis and are tied to the recipient having to acquire capital assets. A subsidy is recorded where permits are received on an ongoing basis.
    • For General Government, Capital transfers and Subsidy expenses are recorded in Table 1 All Levels of Government, Operating Statement – General Government and Table 3 Commonwealth Government, Operating Statement – General Government.
    • For recipient General Government and Public Corporations, Current grants and subsidies revenue are recorded in all the relevant tables.
  • In the period of the emissions event a tax on production will be recorded for entities liable under the Clean Energy Act. The surrender of RECs by wholesale purchasers of electricity to meet their proportion of the RET will also be recorded as a tax on production in the period of the emissions event.
    • For General Government, taxation revenue is recorded in Table 1 All Levels of Government, Operating Statement - General Government and Table 3 Commonwealth Government, Operating Statement – General Government.
    • For liable General Government and Public Corporations, tax expenses are recorded as other current transfers in all relevant tables.

Australian System of Government Finance Statistics: Concepts, Sources and Methods (cat. no. 5514.0) will be updated to reflect the ABS implementation of emission reduction schemes in GFS prior to the September qtr 2012 release.


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 2012
December 2012
4 December 2012
5 March 2013
5 December 2012
6 March 2013

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 Jon Shaw on Brisbane (07) 3222 6054, email <public.finance@abs.gov.au>



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