Statement 10 (continued)

Deflating real spending growth by the consumer price index

The 2014‑15 Budget, including the historical series, calculates real spending growth using the Consumer Price Index (CPI) as the deflator. Previously the non‑farm GDP deflator was used and has therefore been shown in this statement for comparative purposes. The non‑farm GDP deflator incorporates fluctuations in global commodity prices which are not relevant in Government expenditures.

Table 1: Australian Government general government sector receipts, payments, net Future Fund earnings and underlying cash balance^(a)

	Receipts(b)			Payments(c)					Net Future Fund earnings		Underlying cash balance(d)
	$m	Per cent of GDP		$m	Per cent real growth (CPI)	Per cent real growth (NFGDP deflator)(f)	Per cent of GDP		$m		$m	Per cent of GDP
1970-71	8,290	20.5		7,389	na	na	18.3		-		901	2.2
1971-72	9,135	20.5		8,249	4.1	4.7	18.5		-		886	2.0
1972-73	9,735	19.5		9,388	7.7	7.8	18.8		-		348	0.7
1973-74	12,228	20.3		11,078	4.2	3.6	18.4		-		1,150	1.9
1974-75	15,643	22.0		15,463	19.9	14.6	21.7		-		181	0.3
1975-76	18,727	22.5		20,225	15.7	13.5	24.3		-		-1,499	-1.8
1976-77	21,890	22.8		23,157	0.6	1.9	24.1		-		-1,266	-1.3
1977-78	24,019	22.9		26,057	2.7	3.3	24.8		-		-2,037	-1.9
1978-79	26,129	22.0		28,272	0.3	2.7	23.8		-		-2,142	-1.8
1979-80	30,321	22.5		31,642	1.5	2.1	23.5		-		-1,322	-1.0
1980-81	35,993	23.6		36,176	4.6	3.6	23.7		-		-184	-0.1
1981-82	41,499	23.6		41,151	2.9	0.5	23.4		-		348	0.2
1982-83	45,463	24.0		48,810	6.3	6.2	25.8		-		-3,348	-1.8
1983-84	49,981	23.4		56,990	9.4	9.6	26.7		-		-7,008	-3.3
1984-85	58,817	25.0		64,853	9.1	9.0	27.6		-		-6,037	-2.6
1985-86	66,206	25.4		71,328	1.5	3.4	27.3		-		-5,122	-2.0
1986-87	74,724	26.1		77,158	-1.1	0.5	26.9		-		-2,434	-0.8
1987-88	83,491	25.6		82,039	-0.9	-0.3	25.2		-		1,452	0.4
1988-89	90,748	24.6		85,326	-3.1	-4.3	23.1		-		5,421	1.5
1989-90	98,625	24.4		92,684	0.6	2.7	22.9		-		5,942	1.5
1990‑91	100,227	24.2		100,665	3.1	4.2	24.3		-		-438	-0.1
1991‑92	95,840	22.7		108,472	5.7	5.8	25.6		-		-12,631	-3.0
1992‑93	97,633	22.0		115,751	5.6	6.0	26.1		-		-18,118	-4.1
1993‑94	103,824	22.2		122,009	3.5	4.4	26.1		-		-18,185	-3.9
1994‑95	113,458	22.9		127,619	1.4	2.2	25.7		-		-14,160	-2.9
1995‑96	124,429	23.5		135,538	1.9	3.2	25.6		-		-11,109	-2.1
1996‑97	133,592	24.0		139,689	1.7	1.5	25.1		-		-6,099	-1.1
1997‑98	140,736	23.9		140,587	0.6	-0.7	23.9		-		149	0.0
1998‑99	152,063	24.5		148,175	4.1	4.9	23.9		-		3,889	0.6
1999‑00	166,199	25.1		153,192	1.0	0.8	23.2		-		13,007	2.0
2000‑01	182,996	25.9		177,123	9.1	10.8	25.1		-		5,872	0.8
2001‑02	187,588	24.9		188,655	3.5	4.1	25.0		-		-1,067	-0.1
2002‑03	204,613	25.5		197,243	1.4	1.4	24.6		-		7,370	0.9
2003‑04	217,775	25.3		209,785	3.9	2.6	24.3		-		7,990	0.9
2004‑05	235,984	25.6		222,407	3.5	2.0	24.1		-		13,577	1.5
2005‑06	255,943	25.6		240,136	4.6	2.6	24.1		51		15,757	1.6
2006‑07	272,637	25.1		253,321	2.5	0.5	23.3		2,127		17,190	1.6
2007‑08	294,917	25.0		271,843	3.8	2.7	23.1		3,319		19,754	1.7
2008‑09	292,600	23.2		316,046	12.7	10.4	25.1		3,566		-27,013	-2.1
2009‑10	284,662	22.0		336,900	4.2	5.5	26.0		2,256		-54,494	-4.2
2010‑11	302,024	21.5		346,102	-0.4	-3.1	24.6		3,385		-47,463	-3.4
2011‑12	329,874	22.2		371,032	4.8	5.2	25.0		2,203		-43,360	-2.9
2012‑13	351,052	23.1		367,204	-3.2	-0.7	24.1		2,682		-18,834	-1.2
2013‑14(e)	363,496	23.0		410,662	8.9	10.5	25.9		2,689		-49,855	-3.1
2014‑15(e)	385,778	23.6		412,484	-1.7	-0.1	25.3		3,068		-29,773	-1.8
2015‑16(e)	410,427	24.0		424,249	0.4	1.1	24.8		3,262		-17,084	-1.0
2016‑17(p)	436,849	24.4		443,913	2.1	3.2	24.7		3,499		-10,562	-0.6
2017‑18(p)	467,985	24.9		467,060	2.6	3.8	24.8		3,750		-2,825	-0.2

(a) Data have been revised in the 2014‑15 Budget to improve accuracy and comparability through time.

(b) Receipts are equal to cash receipts from operating activities and sales of non‑financial assets.

(c) Payments are equal to cash payments for operating activities, purchases of non‑financial assets and net acquisition of assets under finance leases.

(d) Underlying cash balance is equal to receipts less payments, less net Future Fund earnings. For the purposes of consistent comparison with years prior to 2005‑06, net Future Fund earnings should be added back to the underlying cash balance.

(e) Estimates.

(f) Real spending growth calculated using the Consumer Price Index as the deflator. Real spending growth using non‑farm GDP deflator is included for comparative purposes only.

(p) Projections.

Table 2: Australian Government general government sector net cash flows for investments in financial assets for policy purposes and headline cash balance^(a)

	Receipts		Payments		Net cash flows from investments in financial assets for policy purposes(c)			Headline cash balance(d)
	$m		$m		$m	Per cent of GDP		$m	Per cent of GDP
1970-71	8,290		7,389		-851	-2.1		50	0.1
1971-72	9,135		8,249		-987	-2.2		-101	-0.2
1972-73	9,735		9,388		-977	-2.0		-629	-1.3
1973-74	12,228		11,078		-1,275	-2.1		-125	-0.2
1974-75	15,643		15,463		-2,648	-3.7		-2,467	-3.5
1975-76	18,727		20,225		-2,040	-2.4		-3,539	-4.2
1976-77	21,890		23,157		-1,530	-1.6		-2,796	-2.9
1977-78	24,019		26,057		-1,324	-1.3		-3,361	-3.2
1978-79	26,129		28,272		-1,074	-0.9		-3,216	-2.7
1979-80	30,321		31,642		-702	-0.5		-2,024	-1.5
1980-81	35,993		36,176		-962	-0.6		-1,146	-0.8
1981-82	41,499		41,151		-1,008	-0.6		-660	-0.4
1982-83	45,463		48,810		-1,363	-0.7		-4,711	-2.5
1983-84	49,981		56,990		-1,136	-0.5		-8,144	-3.8
1984-85	58,817		64,853		-922	-0.4		-6,959	-3.0
1985-86	66,206		71,328		-810	-0.3		-5,932	-2.3
1986-87	74,724		77,158		-545	-0.2		-2,979	-1.0
1987-88	83,491		82,039		657	0.2		2,109	0.6
1988-89	90,748		85,326		168	0.0		5,589	1.5
1989-90	98,625		92,684		1,217	0.3		7,159	1.8
1990‑91	100,227		100,665		1,563	0.4		1,125	0.3
1991‑92	95,840		108,472		2,156	0.5		-10,475	-2.5
1992‑93	97,633		115,751		2,471	0.6		-15,647	-3.5
1993‑94	103,824		122,009		3,447	0.7		-14,738	-3.2
1994‑95	113,458		127,619		1,546	0.3		-12,614	-2.5
1995‑96	124,429		135,538		5,188	1.0		-5,921	-1.1
1996‑97	133,592		139,689		7,241	1.3		1,142	0.2
1997‑98	140,736		140,587		15,154	2.6		15,303	2.6
1998‑99	152,063		148,175		6,948	1.1		10,837	1.7
1999‑00	166,199		153,192		9,500	1.4		22,507	3.4
2000‑01	182,996		177,123		5,673	0.8		11,545	1.6
2001‑02	187,588		188,655		3,422	0.5		2,355	0.3
2002‑03	204,613		197,243		-229	0.0		7,141	0.9
2003‑04	217,775		209,785		-452	-0.1		7,538	0.9
2004‑05	235,984		222,407		-1,139	-0.1		12,438	1.3
2005‑06	255,943		240,136		-1,647	-0.2		14,160	1.4
2006‑07	272,637		253,321		7,403	0.7		26,720	2.5
2007‑08	294,917		271,843		5,108	0.4		28,181	2.4
2008‑09	292,600		316,046		-7,889	-0.6		-31,336	-2.5
2009‑10	284,662		336,900		-4,278	-0.3		-56,516	-4.4
2010‑11	302,024		346,102		-7,028	-0.5		-51,106	-3.6
2011‑12	329,874		371,032		-5,866	-0.4		-47,023	-3.2
2012‑13	351,052		367,204		-4,802	-0.3		-20,954	-1.4
2013‑14(e)	363,496		410,662		-6,575	-0.4		-53,741	-3.4
2014‑15(e)	385,778		412,484		-6,819	-0.4		-33,524	-2.1
2015‑16(e)	410,427		424,249		-12,787	-0.7		-26,609	-1.6
2016‑17(p)	436,849		443,913		-15,592	-0.9		-22,656	-1.3
2017‑18(p)	467,985		467,060		-12,358	-0.7		-11,432	-0.6

(a) Data have been revised in the 2014‑15 Budget to improve accuracy and comparability through time.

(b) Prior to 1999‑2000, net cash flows from investments in financial assets for policy purposes were referred to as 'net advances'. A negative number reflects a cash outflow, while a positive number reflects a cash inflow.

(c) Headline cash balance is equal to receipts less payments, plus net cash flows from investments in financial assets for policy purposes.

(e) Estimates.

(p) Projections.

Table 3: Australian Government general government sector call on resources^(a)

	Receipts(b)			Headline cash balance(c)			Call on resources(d)
	$m	Per cent of GDP		$m	Per cent of GDP		$m	Per cent of GDP
1970-71	8,290	20.5		50	0.1		8,240	20.4
1971-72	9,135	20.5		-101	-0.2		9,236	20.7
1972-73	9,735	19.5		-629	-1.3		10,364	20.8
1973-74	12,228	20.3		-125	-0.2		12,353	20.5
1974-75	15,643	22.0		-2,467	-3.5		18,110	25.4
1975-76	18,727	22.5		-3,539	-4.2		22,266	26.7
1976-77	21,890	22.8		-2,796	-2.9		24,686	25.7
1977-78	24,019	22.9		-3,361	-3.2		27,380	26.1
1978-79	26,129	22.0		-3,216	-2.7		29,345	24.7
1979-80	30,321	22.5		-2,024	-1.5		32,345	24.0
1980-81	35,993	23.6		-1,146	-0.8		37,139	24.4
1981-82	41,499	23.6		-660	-0.4		42,159	24.0
1982-83	45,463	24.0		-4,711	-2.5		50,174	26.5
1983-84	49,981	23.4		-8,144	-3.8		58,125	27.2
1984-85	58,817	25.0		-6,959	-3.0		65,776	27.9
1985-86	66,206	25.4		-5,932	-2.3		72,138	27.6
1986-87	74,724	26.1		-2,979	-1.0		77,703	27.1
1987-88	83,491	25.6		2,109	0.6		81,382	25.0
1988-89	90,748	24.6		5,589	1.5		85,159	23.0
1989-90	98,625	24.4		7,159	1.8		91,466	22.6
1990‑91	100,227	24.2		1,125	0.3		99,102	23.9
1991‑92	95,840	22.7		-10,475	-2.5		106,315	25.1
1992‑93	97,633	22.0		-15,647	-3.5		113,280	25.5
1993‑94	103,824	22.2		-14,738	-3.2		118,562	25.4
1994‑95	113,458	22.9		-12,614	-2.5		126,072	25.4
1995‑96	124,429	23.5		-5,921	-1.1		130,350	24.6
1996‑97	133,592	24.0		1,142	0.2		132,450	23.8
1997‑98	140,736	23.9		15,303	2.6		125,433	21.3
1998‑99	152,063	24.5		10,837	1.7		141,226	22.8
1999‑00	166,199	25.1		22,507	3.4		143,692	21.7
2000‑01	182,996	25.9		11,545	1.6		171,451	24.3
2001‑02	187,588	24.9		2,355	0.3		185,233	24.6
2002‑03	204,613	25.5		7,141	0.9		197,472	24.6
2003‑04	217,775	25.3		7,538	0.9		210,237	24.4
2004‑05	235,984	25.6		12,438	1.3		223,546	24.2
2005‑06	255,943	25.6		14,160	1.4		241,783	24.2
2006‑07	272,637	25.1		26,720	2.5		245,918	22.6
2007‑08	294,917	25.0		28,181	2.4		266,735	22.6
2008‑09	292,600	23.2		-31,336	-2.5		323,935	25.7
2009‑10	284,662	22.0		-56,516	-4.4		341,178	26.3
2010‑11	302,024	21.5		-51,106	-3.6		353,130	25.1
2011‑12	329,874	22.2		-47,023	-3.2		376,898	25.4
2012‑13	351,052	23.1		-20,954	-1.4		372,006	24.4
2013‑14(e)	363,496	23.0		-53,741	-3.4		417,237	26.4
2014‑15(e)	385,778	23.6		-33,524	-2.1		419,303	25.7
2015‑16(e)	410,427	24.0		-26,609	-1.6		437,036	25.6
2016‑17(p)	436,849	24.4		-22,656	-1.3		459,505	25.6
2017‑18(p)	467,985	24.9		-11,432	-0.6		479,417	25.5

(a) Data have been revised in the 2014‑15 Budget to improve accuracy and comparability through time.

(b) Receipts are identical to those in Table 1.

(c) Headline cash balance is equal to receipts less payments, plus net cash flows from investments in financial assets for policy purposes. Headline cash balance is identical to those in Table 2.

(d) Call on resources is equal to receipts less headline cash balance.

(e) Estimates.

(p) Projections.

Table 4: Australian Government general government sector taxation receipts, non‑taxation receipts and total receipts^(a)

	Taxation receipts			Non-taxation receipts			Total receipts(b)
	$m	Per cent of GDP		$m	Per cent of GDP		$m	Per cent of GDP
1970-71	7,193	17.8		1,097	2.7		8,290	20.5
1971-72	7,895	17.7		1,240	2.8		9,135	20.5
1972-73	8,411	16.9		1,324	2.7		9,735	19.5
1973-74	10,832	17.9		1,396	2.3		12,228	20.3
1974-75	14,141	19.9		1,502	2.1		15,643	22.0
1975-76	16,920	20.3		1,807	2.2		18,727	22.5
1976-77	19,714	20.5		2,176	2.3		21,890	22.8
1977-78	21,428	20.4		2,591	2.5		24,019	22.9
1978-79	23,409	19.7		2,720	2.3		26,129	22.0
1979-80	27,473	20.4		2,848	2.1		30,321	22.5
1980-81	32,641	21.4		3,352	2.2		35,993	23.6
1981-82	37,880	21.5		3,619	2.1		41,499	23.6
1982-83	41,025	21.7		4,438	2.3		45,463	24.0
1983-84	44,849	21.0		5,132	2.4		49,981	23.4
1984-85	52,970	22.5		5,847	2.5		58,817	25.0
1985-86	58,841	22.6		7,365	2.8		66,206	25.4
1986-87	66,467	23.2		8,257	2.9		74,724	26.1
1987-88	75,076	23.1		8,415	2.6		83,491	25.6
1988-89	83,452	22.6		7,296	2.0		90,748	24.6
1989-90	90,773	22.4		7,852	1.9		98,625	24.4
1990‑91	92,739	22.4		7,488	1.8		100,227	24.2
1991‑92	87,364	20.6		8,476	2.0		95,840	22.7
1992‑93	88,760	20.0		8,873	2.0		97,633	22.0
1993‑94	93,362	20.0		10,462	2.2		103,824	22.2
1994‑95	104,921	21.2		8,537	1.7		113,458	22.9
1995‑96	115,700	21.9		8,729	1.6		124,429	23.5
1996‑97	124,559	22.4		9,033	1.6		133,592	24.0
1997‑98	130,984	22.2		9,752	1.7		140,736	23.9
1998‑99	138,420	22.3		13,643	2.2		152,063	24.5
1999‑00	151,313	22.9		14,887	2.3		166,199	25.1
2000‑01	170,354	24.1		12,641	1.8		182,996	25.9
2001‑02	175,108	23.2		12,481	1.7		187,588	24.9
2002‑03	192,131	24.0		12,482	1.6		204,613	25.5
2003‑04	206,091	23.9		11,683	1.4		217,775	25.3
2004‑05	223,314	24.2		12,669	1.4		235,984	25.6
2005‑06	241,215	24.2		14,728	1.5		255,943	25.6
2006‑07	257,392	23.7		15,245	1.4		272,637	25.1
2007‑08	278,376	23.6		16,540	1.4		294,917	25.0
2008‑09	272,627	21.7		19,973	1.6		292,600	23.2
2009‑10	260,973	20.1		23,689	1.8		284,662	22.0
2010‑11	280,839	20.0		21,185	1.5		302,024	21.5
2011‑12	309,943	20.9		19,931	1.3		329,874	22.2
2012‑13	326,426	21.4		24,627	1.6		351,052	23.1
2013‑14(e)	341,643	21.6		21,854	1.4		363,496	23.0
2014‑15(e)	360,372	22.1		25,407	1.6		385,778	23.6
2015‑16(e)	385,286	22.5		25,141	1.5		410,427	24.0
2016‑17(p)	411,691	23.0		25,158	1.4		436,849	24.4
2017‑18(p)	437,562	23.2		30,422	1.6		467,985	24.9

(a) Data have been revised in the 2014‑15 Budget to improve accuracy and comparability through time.

(b) Receipts are equal to receipts from operating activities and sales of non‑financial assets.

(e) Estimates.

(p) Projections.

Table 5: Australian Government general government sector net debt and net interest payments^(a)

	Net debt(b)			Net interest payments(c)
	$m	Per cent of GDP		$m	Per cent of GDP
1970-71	344	0.9		-189	-0.5
1971-72	-496	-1.1		-245	-0.6
1972-73	-790	-1.6		-252	-0.5
1973-74	-1,851	-3.1		-286	-0.5
1974-75	-1,901	-2.7		-242	-0.3
1975-76	-341	-0.4		-330	-0.4
1976-77	898	0.9		-62	-0.1
1977-78	2,896	2.8		4	0.0
1978-79	4,983	4.2		254	0.2
1979-80	6,244	4.6		440	0.3
1980-81	6,356	4.2		620	0.4
1981-82	5,919	3.4		680	0.4
1982-83	9,151	4.8		896	0.5
1983-84	16,015	7.5		1,621	0.8
1984-85	21,896	9.3		2,813	1.2
1985-86	26,889	10.3		3,952	1.5
1986-87	29,136	10.2		4,762	1.7
1987-88	27,344	8.4		4,503	1.4
1988-89	21,981	5.9		4,475	1.2
1989-90	16,123	4.0		4,549	1.1
1990‑91	16,915	4.1		3,636	0.9
1991‑92	31,041	7.3		3,810	0.9
1992‑93	55,218	12.4		3,986	0.9
1993‑94	70,223	15.0		5,628	1.2
1994‑95	83,492	16.8		7,292	1.5
1995‑96	95,831	18.1		8,861	1.7
1996‑97	96,281	17.3		9,489	1.7
1997‑98	82,935	14.1		8,279	1.4
1998‑99	72,065	11.6		8,649	1.4
1999‑00	53,869	8.1		7,514	1.1
2000‑01	42,719	6.1		6,195	0.9
2001‑02	38,180	5.1		5,352	0.7
2002‑03	29,047	3.6		3,758	0.5
2003‑04	22,639	2.6		3,040	0.4
2004‑05	10,741	1.2		2,502	0.3
2005‑06	-4,531	-0.5		2,303	0.2
2006‑07	-29,150	-2.7		228	0.0
2007‑08	-44,820	-3.8		-1,015	-0.1
2008‑09	-16,148	-1.3		-1,196	-0.1
2009‑10	42,283	3.3		2,386	0.2
2010‑11	84,551	6.0		4,608	0.3
2011‑12	147,334	9.9		6,609	0.4
2012‑13	152,982	10.0		8,285	0.5
2013‑14(e)	197,851	12.5		10,725	0.7
2014‑15(e)	226,388	13.9		10,517	0.6
2015‑16(e)	246,362	14.4		11,549	0.7
2016‑17(p)	261,280	14.6		12,210	0.7
2017‑18(p)	264,200	14.0		12,923	0.7

(a) Data have been revised in the 2014‑15 Budget to improve accuracy and comparability through time.

(b) Net debt is equal to the sum of deposits held, government securities, loans and other borrowing, minus the sum of cash and deposits, advances paid and investments, loans and placements.

(c) Net interest payments are equal to the difference between interest paid and interest receipts.

(e) Estimates.

(p) Projections.

Table 6: Australian Government general government sector face value of Commonwealth Government Securities (CGS) on issue and interest paid

	Face value of CGS on issue(a)
	Total CGS on issue(b)			Subject to Treasurer's direction(c)			Interest Paid(d)
	End of year $m	Per cent of GDP		End of year $m	Per cent of GDP		End of year $m	Per cent of GDP
1970-71	10,887	27.0		-	-		580	1.4
1971-72	11,490	25.8		-	-		614	1.4
1972-73	12,217	24.5		-	-		675	1.4
1973-74	12,809	21.2		-	-		712	1.2
1974-75	14,785	20.8		-	-		893	1.3
1975-76	17,940	21.5		-	-		1,001	1.2
1976-77	20,845	21.7		-	-		1,485	1.5
1977-78	23,957	22.8		-	-		1,740	1.7
1978-79	28,120	23.7		-	-		2,080	1.8
1979-80	29,321	21.8		-	-		2,356	1.8
1980-81	30,189	19.8		-	-		2,723	1.8
1981-82	31,060	17.7		-	-		3,058	1.7
1982-83	37,071	19.6		-	-		3,580	1.9
1983-84	45,437	21.3		-	-		4,558	2.1
1984-85	54,420	23.1		-	-		5,952	2.5
1985-86	63,089	24.2		-	-		7,394	2.8
1986-87	67,172	23.4		-	-		8,339	2.9
1987-88	62,794	19.3		-	-		8,139	2.5
1988-89	56,854	15.4		-	-		8,222	2.2
1989-90	48,399	12.0		-	-		8,064	2.0
1990‑91	48,723	11.7		-	-		6,994	1.7
1991‑92	58,826	13.9		-	-		6,819	1.6
1992‑93	76,509	17.2		-	-		6,487	1.5
1993‑94	90,889	19.5		-	-		7,709	1.7
1994‑95	105,466	21.3		-	-		9,144	1.8
1995‑96	110,166	20.8		-	-		10,325	2.0
1996‑97	111,067	19.9		-	-		10,653	1.9
1997‑98	93,664	15.9		-	-		9,453	1.6
1998‑99	85,331	13.8		-	-		9,299	1.5
1999‑00	75,536	11.4		-	-		8,509	1.3
2000‑01	66,403	9.4		-	-		7,335	1.0
2001‑02	63,004	8.4		-	-		6,270	0.8
2002‑03	57,435	7.2		-	-		4,740	0.6
2003‑04	54,750	6.4		-	-		4,096	0.5
2004‑05	55,151	6.0		-	-		3,902	0.4
2005‑06	54,070	5.4		-	-		4,628	0.5
2006‑07	53,264	4.9		-	-		3,959	0.4
2007‑08	55,442	4.7		-	-		3,754	0.3
2008‑09	101,147	8.0		95,103	7.6		3,970	0.3
2009‑10	147,133	11.3		141,806	10.9		6,411	0.5
2010‑11	191,292	13.6		186,704	13.3		9,551	0.7
2011‑12	233,976	15.7		229,389	15.4		10,875	0.7
2012‑13	257,378	16.9		252,791	16.6		11,846	0.8
2013‑14(e)	320,000	20.2		320,000	20.2		13,935	0.9
2014‑15(e)	360,000	22.1		360,000	22.1		14,174	0.9
2015‑16(e)	390,000	22.8		390,000	22.8		15,442	0.9
2016‑17(p)	430,000	24.0		430,000	24.0		16,188	0.9
2017‑18(p)	450,000	23.9		440,000	23.4		17,011	0.9

(a) From 2013‑14 onwards, data for CGS on issue are projections and are rounded to the nearest $10 billion.

(b) Total CGS on issue includes CGS held on behalf of the States and the Northern Territory, but excludes Commonwealth holdings of CGS.

(c) The face value of CGS subject to the Treasurer's Direction excludes the stock and securities outlined in subsection 51JA(2A) of the Commonwealth Inscribed Stock Act 1911. These are the same stock and securities that were excluded from the previous legislative debt limit. CGS on issue subject to the Treasurer's Direction are not available prior to 2008‑09 because the limit was first introduced in July 2008.

(d) Interest paid consists of all cash interest payments of the general government sector, including those relating to CGS on issue.

(e) Estimates.

(p) Projections.

Table 7: Australian Government general government sector revenue, expenses, net capital investment and fiscal balance^(a)

	Revenue			Expenses			Net capital investment			Fiscal balance(b)
	$m	Per cent of GDP		$m	Per cent of GDP		$m	Per cent of GDP		$m	Per cent of GDP
1996‑97	141,688	25.4		145,821	26.2		90	0.0		-4,223	-0.8
1997‑98	146,820	24.9		148,652	25.2		147	0.0		-1,979	-0.3
1998‑99	152,106	24.5		146,772	23.7		1,433	0.2		3,901	0.6
1999‑00	167,304	25.3		155,558	23.5		-69	0.0		11,815	1.8
2000‑01	186,110	26.4		180,094	25.5		8	0.0		6,007	0.9
2001‑02	190,488	25.3		193,041	25.6		382	0.1		-2,935	-0.4
2002‑03	206,923	25.8		201,259	25.1		287	0.0		5,377	0.7
2003‑04	222,168	25.8		215,361	25.0		660	0.1		6,148	0.7
2004‑05	242,507	26.3		229,245	24.8		1,034	0.1		12,228	1.3
2005‑06	261,238	26.2		242,334	24.3		2,498	0.3		16,406	1.6
2006‑07	278,411	25.6		259,276	23.8		2,333	0.2		16,801	1.5
2007‑08	303,729	25.8		280,188	23.8		2,593	0.2		20,948	1.8
2008‑09	298,933	23.8		324,612	25.8		4,064	0.3		-29,743	-2.4
2009‑10	292,767	22.6		340,208	26.2		6,433	0.5		-53,875	-4.2
2010‑11	309,890	22.0		356,353	25.3		5,297	0.4		-51,760	-3.7
2011‑12	338,109	22.8		378,005	25.4		4,850	0.3		-44,746	-3.0
2012‑13	360,160	23.6		382,644	25.1		987	0.1		-23,472	-1.5
2013‑14(e)	374,267	23.6		415,294	26.2		4,027	0.3		-45,055	-2.8
2014‑15(e)	391,348	24.0		414,845	25.4		2,359	0.1		-25,855	-1.6
2015‑16(e)	419,612	24.5		431,118	25.2		708	0.0		-12,214	-0.7
2016‑17(p)	449,840	25.1		453,806	25.3		2,630	0.1		-6,596	-0.4
2017‑18(p)	480,394	25.5		475,447	25.3		3,962	0.2		984	0.1

(a) Data have been revised in the 2014‑15 Budget to improve accuracy and comparability through time.

(b) Fiscal balance is equal to revenue less expenses less net capital investment.

(e) Estimates.

(p) Projections.

Table 8: Australian Government general government sector net worth and net financial worth^(a)

	Net worth(b)			Net financial worth(c)
	$m	Per cent of GDP		$m	Per cent of GDP
1999‑00	-7,046	-1.1		-67,036	-10.1
2000‑01	-6,618	-0.9		-71,876	-10.2
2001‑02	-11,655	-1.5		-78,032	-10.4
2002‑03	-15,330	-1.9		-82,931	-10.4
2003‑04	-1,152	-0.1		-72,389	-8.4
2004‑05	14,556	1.6		-58,882	-6.4
2005‑06	17,971	1.8		-59,763	-6.0
2006‑07	46,351	4.3		-35,696	-3.3
2007‑08	70,859	6.0		-14,690	-1.2
2008‑09	19,427	1.5		-71,490	-5.7
2009‑10	-45,938	-3.5		-144,485	-11.1
2010‑11	-95,386	-6.8		-198,787	-14.1
2011‑12	-247,208	-16.6		-355,834	-23.9
2012‑13	-202,650	-13.3		-312,724	-20.5
2013‑14(e)	-186,419	-11.8		-299,647	-18.9
2014‑15(e)	-212,010	-13.0		-329,239	-20.2
2015‑16(e)	-222,454	-13.0		-342,385	-20.0
2016‑17(p)	-228,995	-12.8		-351,036	-19.6
2017‑18(p)	-227,354	-12.1		-352,659	-18.7

(a) Data have been revised in the 2014‑15 Budget to improve accuracy and comparability through time.

(b) Net worth is equal to total assets less liabilities.

(c) Net financial worth is equal to financial assets less liabilities.

(e) Estimates.

(p) Projections.

Table 9: Australian Government general government sector accrual taxation revenue, non‑taxation revenue and total revenue^(a)

	Taxation revenue			Non-taxation revenue			Total revenue
	$m	Per cent of GDP		$m	Per cent of GDP		$m	Per cent of GDP
1999‑00	153,408	23.2		13,896	2.1		167,304	25.3
2000‑01	175,881	24.9		10,228	1.4		186,110	26.4
2001‑02	178,210	23.6		12,278	1.6		190,488	25.3
2002‑03	195,203	24.4		11,720	1.5		206,923	25.8
2003‑04	209,959	24.4		12,209	1.4		222,168	25.8
2004‑05	229,943	24.9		12,564	1.4		242,507	26.3
2005‑06	245,716	24.6		15,522	1.6		261,238	26.2
2006‑07	262,511	24.1		15,900	1.5		278,411	25.6
2007‑08	286,229	24.3		17,500	1.5		303,729	25.8
2008‑09	278,653	22.1		20,280	1.6		298,933	23.8
2009‑10	268,000	20.7		24,767	1.9		292,767	22.6
2010‑11	289,005	20.5		20,885	1.5		309,890	22.0
2011‑12	316,779	21.3		21,330	1.4		338,109	22.8
2012‑13	337,323	22.2		22,836	1.5		360,160	23.6
2013‑14(e)	350,956	22.2		23,310	1.5		374,267	23.6
2014‑15(e)	368,814	22.6		22,534	1.4		391,348	24.0
2015‑16(e)	396,055	23.2		23,557	1.4		419,612	24.5
2016‑17(p)	422,875	23.6		26,966	1.5		449,840	25.1
2017‑18(p)	449,509	23.9		30,884	1.6		480,394	25.5

(a) Data have been revised in the 2014‑15 Budget to improve accuracy and comparability through time.

(e) Estimates.

(p) Projections.

Table 10: Australian Government cash receipts, payments and surplus by institutional sector ($m)^(a)

	General government				Public non-financial corporations				Non-financial public sector
	Receipts(b)	Payments(c)	Underlying cash balance(d)		Receipts(b)	Payments(c)	Cash surplus(d)		Receipts(b)	Payments(c)	Underlying cash balance(d)
1988-89	90,748	85,326	5,421		4,177	6,035	257		93,923	90,312	5,678
1989-90	98,625	92,684	5,942		3,926	11,322	-5,261		101,495	102,883	681
1990‑91	100,227	100,665	-438		4,804	9,351	-2,139		103,837	108,808	-2,577
1991‑92	95,840	108,472	-12,631		3,899	7,713	101		97,937	114,369	-12,530
1992‑93	97,633	115,751	-18,118		4,385	7,819	-196		100,512	122,042	-18,314
1993‑94	103,824	122,009	-18,185		5,178	6,476	1,482		106,747	126,214	-16,703
1994‑95	113,458	127,619	-14,160		5,262	7,318	1,956		116,751	132,965	-12,204
1995‑96	124,429	135,538	-11,109		4,927	8,190	-527		126,593	140,963	-11,636
1996‑97	133,592	139,689	-6,099		4,782	7,373	473		135,259	143,948	-5,626
1997‑98	140,736	140,587	149		6,238	7,923	1,119		144,517	145,985	1,268
1998‑99	152,063	148,175	3,889		na	na	-353		na	na	3,536
1999‑00	166,199	153,192	13,007		na	na	-2,594		na	na	10,413
2000‑01	182,996	177,123	5,872		na	na	391		na	na	6,264
2001‑02	187,588	188,655	-1,067		na	na	1,210		na	na	143
2002‑03	204,613	197,243	7,370		27,386	26,105	1,280		na	na	8,650
2003‑04	217,775	209,785	7,990		27,718	26,142	1,575		238,236	228,669	9,564
2004‑05	235,984	222,407	13,577		29,621	28,071	1,550		257,946	242,818	15,128
2005‑06	255,943	240,136	15,757		30,875	31,874	-999		278,254	263,445	14,759
2006‑07	272,637	253,321	17,190		16,882	18,641	-1,759		285,336	267,778	15,431
2007‑08	294,917	271,843	19,754		7,758	8,232	-473		300,503	277,903	19,281
2008‑09	292,600	316,046	-27,013		7,987	8,960	-973		297,421	321,841	-27,986
2009‑10	284,662	336,900	-54,494		8,419	9,341	-922		290,681	343,841	-55,416
2010‑11	302,024	346,102	-47,463		8,558	9,733	-1,175		308,258	353,511	-48,638
2011‑12	329,874	371,032	-43,360		8,845	10,847	-2,002		336,122	379,282	-45,362
2012‑13	351,052	367,204	-18,834		9,766	14,135	-4,369		358,088	378,609	-23,203
2013‑14(e)	363,496	410,662	-49,855		11,304	-14,831	-3,527		372,415	-423,108	-50,693
2014‑15(e)	385,778	412,484	-29,773		11,165	-16,327	-5,162		395,374	-427,241	-31,867
2015‑16(e)	410,427	424,249	-17,084		na	na	na		na	na	na
2016‑17(p)	436,849	443,913	-10,562		na	na	na		na	na	na
2017‑18(p)	467,985	467,060	-2,825		na	na	na		na	na	na

(a) Data have been revised in the 2014‑15 Budget to improve accuracy and comparability through time.

(b) Receipts are equal to receipts from operating activities and sales of non‑financial assets.

(c) Payments are equal to payments for operating activities, purchases of non‑financial assets and net acquisition of assets under finance leases.

(d) These items exclude net Future Fund earnings from 2005‑06 onwards. Net Future Fund earnings are shown in Table 1.

(e) Estimates.

(p) Projections.

na Data not available.

Table 11: Australian Government accrual revenue, expenses and fiscal balance by institutional sector ($m)^(a)

	General government				Public non-financial corporations				Non-financial public sector
	Revenue	Expenses	Fiscal balance(b)		Revenue	Expenses	Fiscal balance(b)		Revenue	Expenses	Fiscal balance(b)
1996‑97	141,688	145,821	-4,223		27,431	26,015	-331		na	na	-4,554
1997‑98	146,820	148,652	-1,979		29,618	26,999	2,360		na	na	387
1998‑99	152,106	146,772	3,901		27,687	26,088	-816		175,891	168,958	3,085
1999‑00	167,304	155,558	11,815		25,485	23,542	1,062		188,841	175,152	11,721
2000‑01	186,110	180,094	6,007		25,869	24,762	-826		207,372	200,250	5,181
2001‑02	190,488	193,041	-2,935		26,638	25,341	793		212,518	213,774	-2,142
2002‑03	206,923	201,259	5,377		24,339	22,916	1,975		226,135	219,089	7,311
2003‑04	222,168	215,361	6,148		25,449	23,444	2,143		241,873	233,060	8,291
2004‑05	242,507	229,245	12,228		26,965	25,191	1,473		263,587	248,552	13,700
2005‑06	261,238	242,334	16,406		28,143	29,531	-2,442		282,597	265,080	13,964
2006‑07	278,411	259,276	16,801		15,443	16,360	-1,763		290,067	271,850	15,038
2007‑08	303,729	280,188	20,948		6,854	6,686	-584		309,215	285,506	20,364
2008‑09	298,933	324,612	-29,743		6,998	7,576	-1,495		303,733	329,991	-31,238
2009‑10	292,767	340,208	-53,875		7,288	7,297	-1,079		298,412	345,863	-54,954
2010‑11	309,890	356,353	-51,760		7,563	7,787	-1,446		315,688	362,375	-53,205
2011‑12	338,109	378,005	-44,746		8,046	8,238	-2,158		344,507	384,595	-46,904
2012‑13	360,160	382,644	-23,472		8,863	9,415	-4,189		367,306	390,342	-27,661
2013‑14(e)	374,267	415,294	-45,055		9,520	10,984	-3,843		382,026	424,517	-48,898
2014‑15(e)	391,348	414,845	-25,855		9,871	11,759	-5,463		399,903	425,287	-31,318
2015‑16(e)	419,612	431,118	-12,214		na	na	na		na	na	na
2016‑17(p)	449,840	453,806	-6,596		na	na	na		na	na	na
2017‑18(p)	480,394	475,447	984		na	na	na		na	na	na

(a) Data have been revised in the 2014‑15 Budget to improve accuracy and comparability through time.

(b) Fiscal balance is equal to revenue less expenses less net capital investment. Net capital investment is not shown in this table.

(e) Estimates.

(p) Projections.

na Data not available.