PRESENTATION IN ABS STATISTICS
29 As noted above the ABS considers that the effective date that Telstra moved from public sector to private sector was 20 November 2006. For the purposes of collecting and publishing statistics the ABS has made the pragmatic decision to continue to treat Telstra as a public sector unit up to and including 31 December 2006 (ie up to and including the December quarter 2006) and as a private sector unit subsequent to that (ie from the March quarter 2007). As such the change in classification will not impact on published December quarter 2006 estimates.
30 The changed treatment of Telstra will not affect the measures of economy-wide activity, such as gross domestic product, balance of payments, labour price index and employment. However it will impact on a large number of ABS published statistical series from the March quarter 2007. Specifically it will impact on any published estimates that:
- are restricted in scope to either the private or public sector; or
- that provide in the published estimates a public/private sector breakdown of aggregates.
31 Included in the first category are the following publications which are restricted in scope to either the private or public sector:
- Business Indicators Australia (cat. no. 5676.0) - private sector
- New Capital Expenditure and Expected Expenditure (cat. no. 5625.0) - private sector
- Government Finance Statistics (cat. no. 5519.0.55.001) - public sector
- Wage and Salary Earners, Public Sector, Australia (cat. no. 6248.0.55.001) - public sector.
32 The following publications, which present a range of statistical series with a public/private sector dimension, are included in the second category:
- Australian National Accounts: National Income, Expenditure and Product (cat. no 5206.0)
- Australian National Accounts: Financial Accounts (cat. no. 5232.0)
- Balance of Payments and International Investment Position (cat no 5302.0)
- Average Weekly Earnings, Australia (cat. no 6302.0)
- Labour Price Index Australia (cat. no. 6345.0)
- Engineering Construction Activity, Australia (cat. no. 8762.0)
33 The inclusion/exclusion of Telstra may cause significant increases/declines in the levels of the affected statistical series and in turn overstate the magnitude of estimates of change for the March quarter 2007. These will carry through to the seasonally adjusted estimates. For the affected series it may be necessary to suspend the publication of the trend estimates for the March quarter 2007. Publication of trend estimates for the selected series would resume once the magnitude of the trend break had been established. In the longer term different seasonal patterns may emerge as a result of the inclusion/exclusion of Telstra in the series.
34 While the change in sectoral classification of Telstra will apply from the March quarter 2007, there will also be impacts on some statistical series for the December quarter 2006. These impacts arise from the issuance of the instalment receipts by the trust which are traded separately from Telstra shares. The Financial Accounts (cat no 5232.0) and the Balance of Payments and International Investment Position (cat no 5302.0) December quarter 2006 publications will capture the share activity for Telstra shares and the T3 instalment receipts as:
- a decrease in the holding of Telstra shares (national public non financial corporation) by the national general government
- an increase in the holding of Telstra shares by the trust (financial intermediary n.e.c)
- the recording of T3 instalment receipts as equity issued by the trust and held by residents and non-residents.