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5501.0 - Government Financial Estimates, Australia, 2000-01  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 02/11/2000   
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SUMMARY OF FINDINGS

NOTE

The data for 1999-2000, used in the following analysis, is based on the latest published budget information for each jurisdiction. The Commonwealth, New South Wales, Victorian, Western Australian and Northern Territory governments have released post-budget data, which are not reflected in the analysis.

GFS ANALYTICAL BALANCES

Two of the Government Finance Statistics (GFS) analytical balances are the net operating balance (NOB) and net lending/borrowing (NLB). The NOB and NLB results are summarised in the table below.


NET OPERATING BALANCE
NET LENDING(+)/BORROWING(-)
1998-99
1999-00e
2000-01e
1998-99
1999-00e
2000-01e
$m
$m
$m
$m
$m
$m

All Australian Governments
General Government
9,023
13,713
3,264
5,614
10,002
3,087
Non-financial public sector
9,605
14,365
6,033
1,467
9,126
3,359
Commonwealth Government
General Government
3,799
8,943
1,708
3,628
9,597
5,459
Non-financial public sector
5,428
8,415
3,725
2,899
6,547
6,434
State and local Governments
General Government
4,915
4,473
1,273
1,843
420
-2,350
Non-financial public sector
3,841
5,621
1,910
-1,601
2,560
-3,169
Muli-jurisdictional(a)
General Government
367
324
358
189
7
49

(a) The multi-jurisdictional sector currently contains only public universities.


GFS NET OPERATING BALANCE

The GFS NOB for the Non-financial Public Sector (NFPS) for all Australian governments combined is expected to decrease from $14,365m in 1999-2000 to $6,033 in 2000-01. This reflects an expected decrease in the General Government (GG) sector NOB from $13,713m in 1999-2000 to $3,264m in 2000-01, offset by an increase in the PNFC sector NOB from $700m in 1999-2000 to $2,679m in 2000-01.

The following graph shows, for each jurisdiction, the expected NFPS NOB for 1999-2000 and 2000-01.

GFS NET LENDING/BORROWING

The NLB for the NFPS for all Australian governments combined is expected to fall from $9,126m in 1999-2000 to $3,359m in 2000-01. This decrease reflects an expected decrease in the GG sector net lending from $10,002m in 1999-2000 to $3,087m in 2000-01, partially offset by a turnaround in the NFPS from net borrowing of $834m in 1999-2000 to net lending of $193m in 2000-01. The strong NLB for 1999-2000 is largely due to the growth in taxation revenue for all Australian governments, the sale of radio spectrum licences by the Commonwealth and the sale of the assets of electricity utilities in South Australia.

The following graph shows, for each jurisdiction, the expected NFPS NLB for 1999-2000 and 2000-01.



GFS SURPLUS/DEFICIT

The surplus for the NFPS for all levels of government is expected to fall from $9,148m in 1999-2000 to $2,187m in 2000-01. This reflects an expected decrease in the GG sector surplus from $8,935m in 1999-2000 to $3,254m in 2000-01, and a turnaround in the PNFC sector from a surplus of $71m in 1999-2000 to a deficit of $714m in 2000-01.

Surplus/deficit results are summarised in the table below.


SURPLUS(+)/DEFICIT(-)
1998-99
1999-00e
2000-01e
$m
$m
$m

All Australian Governments
General Government
1,398
8,935
3,254
Non-financial public sector
-2,673
9,148
2,187
Commonwealth Government
General Government
3,890
7,795
2,844
Non-financial public sector
3,800
5,490
3.689
State and local Governments
General Government
-2,436
1,538
595
Non-financial public sector
-6,440
4,029
-1,263
Multi-jurisdictional(a)
General Government
168
-54
-27

(a) The multi-jurisdictional sector currently contains only public universities.


The following graph shows, for each jurisdiction, the expected NFPS surplus/deficit for 1999-2000 and 2000-01.


GFS NET WORTH (NW)

GFS NW reflects the contribution of governments to the wealth of Australia. The expected NW of the NFPS for all Australian governments was $275,921m as at 30 June 2000, an increase of $34,893m or 14.5% upon the NW of $241,028m as at 30 June 1999. This was due to an increase in total assets of $27,503m and a decrease in liabilities plus shares and other contributed capital of $7,390m. This change was largely due to an improvement in the Commonwealth government's NFPS net worth.

Balance sheet results as at 30 June are summarised in the table below.


GENERAL GOVERNMENT
NON-FINANCIAL PUBLIC SECTOR
at 30 June 1999
at 30 June 2000e
at 30 June 1999
at 30 June 2000e
$m
$m
$m
$m

All Australian Governments
Total assets
639,295
639,284
646,101
673,604
Total liabilities
297,243
288,075
364,285
352,265
Shares and other contributed capital
-
-
40,789
45,419
GFS net worth
342,052
351,209
241,028
275,921
Commonwealth Government
Total assets
147,765
137,448
112,477
130,421
Total liabilities
185,970
178,834
210,855
201,622
Shares and other contributed capital
-
-
40,850
45,478
GFS net worth
-38,205
-41,385
-139,229
-116,679
State and local Governments
Total assets
477,081
485,662
519,293
527,123
Total liabilities
114,398
111,646
156,606
153,099
Shares and other contributed capital
-
-
-
-
GFS net worth
362,682
374,016
362,682
374,022
Multi-jurisdictional
Total assets
22,879
23,759
22,879
23,759
Total liabilities
5,305
5,181
5,305
5,181
Shares and other contributed capital
-
-
-
-
GFS net worth
17,575
18,578
17,575
18,578

(a) The multi-jurisdictional sector currently contains only public universities.


The graph below shows the GFS NW for the Commonwealth and State and local NFPS for each jurisdiction as at 30 June 1999 and 2000 as a percentage of gross domestic product (GDP).


EXPENSES BY PURPOSE

The graph below shows the main purposes of the Australian general government sector expenses for 1999-2000 and 2000-01. Expenses on social security and welfare are expected to rise by $8,285m (13.5%) from $61,438m in 1999-2000 to $69,723m in 2000-01 and to account for 28.9% of total expenses in 2000-01 compared with 27.3% in 1999-2000. General government expenses on health are expected to increase by 6%, from $35,948m in 1999-2000 to $38,105m in 2000-01, and to account for 15.8% of total expenses in 2000-01.


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