APPENDIX B: HISTORICAL DATA FOR THE COMMONWEALTH BUDGET SECTOR

Table 7 provides details of the budget aggregates for the period 1960-61 to 1999-00. The underlying budget balance is revenue minus outlays excluding net advances to other sectors. Total net advances comprise net loans from the budget (new policy loans and advances less repayments) and net equity injections (injections/purchases of equity less equity sales). Care needs to be taken in making comparisons over such an extended period owing to classification differences and revisions, as well as changes to the structure of the budget. In particular, there are some inconsistencies in the data relating to the period prior to 1976-77 and those used for data from 1976-77 onwards. Year to year classification changes are typically minor in nature but it does mean that data for the earlier period may not be entirely consistent with that for 1976-77 and later years.

Table 8 provides details of tax, non-tax and total revenue for the period 1960-61 to 1999-00. These revenue data are compiled on a consistent basis from 1976-77.

Other factors which affect the comparability of budget aggregates between years are:

• adjustments in the coverage of agencies included in the accounts of the Commonwealth budget sector;
• transfers of taxing powers between the Commonwealth and the States;
• other changes in financial arrangements between the Commonwealth budget sector, Commonwealth non-budget sector agencies and the State/local government sector; and
• changes in arrangements for transfer payments where tax rebates are replaced by payments through the social security system. This has the effect of increasing both revenue and outlays as compared with earlier periods, but not changing balances. Changes in the opposite direction (tax expenditures replacing outlays) reduce both outlays and revenue.

While approximate adjustments can be made to identify trends in budget aggregates on a generally consistent basis, the further back this analysis is taken, the less manageable that task becomes.

A detailed discussion of the comparability of budget aggregates since 1960-61 is provided in Statement 5 of Budget Paper No 1, 1992-93.

Further details of the classification treatment and coverage of the budget sector are provided in Statement 7.

Table 7: Commonwealth Budget Revenue, Outlays excluding net advances and Underlying Balance^(a)

1960-61 to 1999-00

(a) Data for the period since 1976-77 are classified on a consistent basis. Earlier data are classified on the basis applying in the relevant Budget year. The underlying budget balance is revenue minus outlays excluding total net advances to other sectors.

Table 8: Commonwealth Budget Taxation Revenue, Non-taxation Revenue and Total Revenue^(a)

1960-61 to 1999-00

(a) Data for the period since 1976-77 are classified on a consistent basis. Earlier data are classified on the basis applying in the relevant Budget year.