5519.0.55.001 - Government Finance Statistics, Australia, Jun 2019 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/09/2019   
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Key figures: all levels of general government, Government Finance Statistics (GFS)


In the June quarter 2019:

  • taxation revenue increased 13.1% to $153,801m
  • revenue exceeded expenses resulting in a net operating balance of $15,959m
  • the GFS net lending(+)/borrowing(-) position was $1,318m.


Graph 1: All levels of general government, GFS revenue and expenses
Graph showing 8 quarters GFS revenue and expenses


Graph 2: All levels of general government, net operating balance, net lending/borrowing
Line graph quarterly series showing general government net operating balanace and net lending/borrowing



Table 1: GFS key figures: all levels of government, original

Mar Qtr
2019
Jun Qtr
2019
Mar Qtr 2019 to
Jun Qtr 2019
$m
$m
% change

Current Prices
Taxation revenue
General government
136 032
153 801
13.1
Total revenue
General government
168 986
192 002
13.6
Public non-financial corporations
21 508
22 556
4.9
Total expenses
General government
164 861
176 042
6.8
Public non-financial corporations
22 889
25 575
11.7
GFS Net operating balance
General government
4 125
15 959
. .
Public non-financial corporations
–1 381
3 019
. .
GFS Net lending(+)/borrowing(-)
General government
–2 649
1 318
. .
Public non-financial corporations
–2 791
–5 769
. .

. . not applicable


Quarterly national accounts public sector measures - key figures

The table below includes the key public sector aggregates for the June quarter 2019 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 total general government and Gross Fixed Capital Formation for total general government and total public corporations, seasonally adjusted in current prices and chain volume terms.

In seasonally adjusted chain volume terms compared with the previous quarter:
  • general government final consumption expenditure increased by $2,365m or 2.7%, and is expected to positively contribute 0.5 percentage points to growth in the June quarter 2019 volume measure of GDP
  • general government gross fixed capital formation decreased by $470m or 2.7%
  • public corporations gross fixed capital formation decreased by $70m or 1.3%
  • public gross fixed capital formation decreased by $541m or 2.3%, and is expected to detract -0.1 percentage points from growth in the June quarter 2019 volume measure of GDP.


Graph 3: National accounts public sector key measures, seasonally adjusted chain volume

Line graph showing national accounts public sector consumption and gross fixed capital formation


Table 2: Quarterly national accounts public sector measures - key figures, seasonally adjusted


Sept Qtr
2018
Dec Qtr
2018
Mar Qtr
2019
Jun Qtr
2019
Mar Qtr 2019
to Jun Qtr 2019
$m
$m
$m
$m
% change

Current Prices
General government final consumption expenditure (a)
National - defence
8 186
8 136
7 939
8 098
2.0
National - non-defence
28 834
30 004
30 279
31 435
3.8
Total national
37 020
38 140
38 218
39 532
3.4
State and local
52 655
53 181
53 849
55 057
2.2
Total general government final consumption expenditure
89 675
91 321
92 066
94 590
2.7
Public gross fixed capital formation
General government
National - defence
2 864
2 542
2 431
2 642
8.7
National - non-defence
2 370
2 438
2 377
2 279
–4.1
Total national
5 234
4 981
4 808
4 922
2.4
State and local
12 705
13 333
13 605
13 129
–3.5
Total general government
17 939
18 314
18 413
18 051
–2.0
Public corporations
Commonwealth
2 091
2 038
2 157
2 172
0.7
State and local
4 025
3 724
3 601
3 552
–1.4
Total public corporations
6 116
5 763
5 758
5 724
–0.6
Total public gross fixed capital formation
24 055
24 076
24 171
23 775
–1.6
Memorandum item
Net purchases of second-hand assets by public sector
516
450
448
654
np

Chain Volume (b)
General government final consumption expenditure (a)
National - defence
8 001
7 920
7 757
7 909
2.0
National - non-defence
28 667
29 733
30 150
31 065
3.0
Total national
36 668
37 652
37 907
38 975
2.8
State and local
50 262
50 482
51 055
52 353
2.5
Total general government final consumption expenditure
86 930
88 134
88 963
91 328
2.7
Public gross fixed capital formation
General government
National - defence
2 824
2 462
2 335
2 501
7.1
National - non-defence
2 352
2 414
2 361
2 250
–4.7
Total national
5 176
4 876
4 696
4 751
1.2
State and local
12 083
12 607
12 851
12 326
–4.1
Total general government
17 259
17 483
17 547
17 077
–2.7
Public corporations
Commonwealth
2 038
1 970
2 070
2 074
0.2
State and local
3 908
3 581
3 438
3 364
–2.1
Total public corporations
5 946
5 551
5 508
5 438
–1.3
Total public gross fixed capital formation
23 205
23 034
23 055
22 514
–2.3
Memorandum item
Net purchases of second-hand assets by public sector
492
427
424
615
np

np not available for publication but included in totals where applicable, unless otherwise indicated
(a) See paragraph 35 of the Explanatory Notes for the relationship between general government final consumption expenditure and GFS aggregates.
(b) Reference year for chain volume measures is 2016-17.


Quarters presented in this release

This release presents quarterly government finance statistics on an accrual accounting basis. All tables presented 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 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 (2017-18) was released on 29 April 2019.

RELEASE OF QUARTERLY GFS THIS ISSUE
Table
Sep 18
Dec 18
Mar 19
Jun 19
Table 1 All Levels of Government, Operating Statement - General Government
*
*
*
*
Table 2 All Levels of Government, Operating Statement - Public Non-Financial Corporations
*
*
*
*
Table 3 Commonwealth Government, Operating Statement
*
*
*
*
Table 4 Total State & Local, Operating Statement
*
*
*
*
Table 5 New South Wales, Operating Statement
*
*
*
*
Table 6 Victoria, Operating Statement
*
*
*
*
Table 7 Queensland, Operating Statement
*
*
*
*
Table 8 South Australia, Operating Statement
*
*
*
*
Table 9 Western Australia, Operating Statement
*
*
*
*
Table 10 Tasmania, Operating Statement
*
*
*
*
Table 11 Northern Territory, Operating Statement
*
*
*
*
Table 12 Australian Capital Territory, Operating Statement
*
*
*
*
Table 13 Commonwealth Government, Balance Sheet
*
*
*
*
Table 14 Total State Government, Balance Sheet
*
*
*
*

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.


Updates to datacube presentation next quarter

The upcoming September quarter release will contain the following updates:

1. Balance sheet table format will be updated to match that presented in the latest annual release. See downloadable annual tables 130 and 239 in Government Finance Statistics, Australia 2017-18 (cat. no. 5512.0).
2. The memorandum item for creditor interest presented at the foot of the operating statements for the Commonwealth (Table 3) and All State and local (Table 4) worksheets will be discontinued. Public sector creditor interest estimates will continue to be available in Australian National Accounts: Income, expenditure and product (cat no. 5206.0).


Changes to government finance statistics

Australia's system for producing GFS has been updated as a result of revised international standards for compiling national accounts (2008 SNA) and the consequent revision of the International Monetary Fund's GFS Manual 2014 (IMF GFSM 2014). An updated ABS GFS Manual was released on 23 December 2015 to reflect the AGFS15 changes and can be found in Australian System of Government Finance Statistics: Concepts, Sources and Methods, 2015 (cat. no. 5514.0). AGFS15 is effective for all GFS data that is reported for all periods from 1 July 2017 onwards, beginning with the September quarter 2017 publication.

A range of conceptual changes under AGFS15 are outlined in the updated ABS GFS Manual. Details of the changes that impact quarterly GFS data were covered in an earlier Information Paper: Forthcoming Changes to the Quarterly Publication for Government Finance Statistics (cat. no. 5519.0.55.002). Details of the changes that impact annual GFS data are covered in a recent Information Paper: Forthcoming Changes to the Annual Publication for Government Finance Statistics (cat. no. 5512.0.55.001).

As part of these changes the ABS is currently considering options for the implementation of the creditor approach to interest expenses. Experimental estimates for key aggregate sectors are included in the interim as a memorandum item in the publication spreadsheet so that users are aware of the potential impact on GFS outputs. These experimental estimates are sourced from the General Government Income Accounts that are produced as part of the quarterly Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0). The Income Accounts present Other interest as an output category within Property income payable, which is broadly comparable to the Other interest expenses output category within GFS Expenses.


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 across 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
September 20193 December 20194 December 2019
December 20193 March 20204 March 2020


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 email <public.finance@abs.gov.au>. The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to us.