Appendix D: Historical Australian Government Data
This appendix reports historical data for the Australian Government fiscal aggregates across the general government, public non‑financial corporations and non‑financial public sectors.
Data sources
Data are sourced from Australian Government Final Budget Outcomes, the Australian Bureau of Statistics (ABS), the Australian Office of Financial Management and Australian Government Consolidated Financial Statements.
- Accrual data from 1996‑97 onwards and cash data, net debt data, net financial worth data and net worth data from 1999‑2000 onwards are sourced from Australian Government Final Budget Outcomes. Back‑casting adjustments for accounting classification changes and other revisions have been made from 1998‑99 onwards where applicable.
- Cash data prior to 1999‑2000 are sourced from ABS data, which have been calculated using methodology consistent with that used for later years in ABS cat. no. 5512.0 Government Finance Statistics.
- Net debt data prior to 1999‑2000 are from ABS cat. no. 5512.0 Government Finance Statistics 2003‑04 in 1998‑99, ABS cat. no. 5501.0 Government Financial Estimates 1999‑2000 and ABS cat. no. 5513.0 Public Sector Financial Assets and Liabilities 1998 in 1987‑88 to 1997‑98, and Treasury estimates (see Treasury's Economic Roundup, Spring 1996, pages 97‑103) prior to 1987‑88.
Comparability of data across years
The data set contains a number of structural breaks owing to accounting classification differences and changes to the structure of the budget which cannot be eliminated through back‑casting because of data limitations. These breaks can affect the comparability of data across years, especially when the analysis is taken over a large number of years. Specific factors causing structural breaks include:
- from 2005‑06 onwards, underlying Government Finance Statistics (GFS) data are provided by agencies in accordance with Australian Accounting Standards (AAS) which includes International Financial Reporting Standards (IFRS) as adopted in Australia. Prior to 2005‑06, underlying GFS data are based on data provided by agencies applying AAS prior to the adoption of IFRS;
- most recent accounting classification changes that require revisions to the historical series have been back‑cast (where applicable) to 1998‑99, ensuring that data are consistent across the accrual period from 1998‑99 onwards. However, because of data limitations, these changes have not been back‑cast to earlier years;
- prior to 1999‑2000, Australian Government general government sector debt instruments are valued at historic cost, whereas from 1999‑2000 onwards they are valued at market prices (consistent with accrual GFS standards). This affects net debt and net interest payments;
- cash data up to and including 1997‑98 are calculated under a cash accounting framework, while cash data from 1998‑99 onwards are derived from an accrual accounting framework.1 Although the major methodological differences associated with the move to the accrual framework have been eliminated through back‑casting, comparisons across the break may still be affected by changes to some data sources and collection methodologies;
- adjustments in the coverage of agencies included in the accounts of the different sectors. These include the reclassification of Central Banking Authorities from the general government to the public financial corporations sector in 1998‑99, and subsequent back‑casting to account for this change;
- changes in arrangements for transfer payments, where tax concessions or rebates have been replaced by payments through the social security system. This has the effect of increasing both cash receipts and payments, as compared with earlier periods, but not changing cash balances. Changes in the opposite direction (tax expenditures replacing payments) reduce both cash payments and receipts; and
- classification differences in the data relating to the period prior to 1976‑77 (which means that earlier data may not be entirely consistent with data for 1976‑77 onwards).
Revisions to previously published data
Under the accrual GFS framework and generally under AAS, flows are recorded in the period in which they occurred. As a result, prior period outcomes may be revised for classification changes relating to information that could reasonably have been expected to be known in the past, is material in at least one of the affected periods, and can be reliably assigned to the relevant period(s).
The 2015‑16 MYEFO includes revisions to the historical series to reflect a change by the Department of Immigration and Border Protection to the classification of visa application charges. The charges will now be treated as taxation revenue/receipts rather than non‑taxation revenue/receipts to reflect a sustained change in the nature of the revenue/receipts. This reclassification will take effect from the 2015‑16 MYEFO and prior periods will be adjusted to ensure comparability across years. This change will increase taxation revenue/receipts and decrease non‑taxation revenue/receipts. There is no impact on total revenue, the underlying cash balance or the fiscal balance for the general government sector.
| 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 | 20.6 | 7,389 | na | na | 18.3 | - | 901 | 2.2 | |||
| 1971-72 | 9,135 | 20.6 | 8,249 | 4.1 | 4.7 | 18.6 | - | 886 | 2.0 | |||
| 1972-73 | 9,735 | 19.6 | 9,388 | 7.7 | 7.8 | 18.9 | - | 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 | 21.8 | - | 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 | 24.9 | - | -2,037 | -1.9 | |||
| 1978-79 | 26,129 | 22.1 | 28,272 | 0.3 | 2.7 | 23.9 | - | -2,142 | -1.8 | |||
| 1979-80 | 30,321 | 22.6 | 31,642 | 1.5 | 2.1 | 23.6 | - | -1,322 | -1.0 | |||
| 1980-81 | 35,993 | 23.7 | 36,176 | 4.6 | 3.6 | 23.8 | - | -184 | -0.1 | |||
| 1981-82 | 41,499 | 23.6 | 41,151 | 2.9 | 0.5 | 23.4 | - | 348 | 0.2 | |||
| 1982-83 | 45,463 | 24.1 | 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 | 3.7 | 27.4 | - | -5,122 | -2.0 | |||
| 1986-87 | 74,724 | 26.2 | 77,158 | -1.1 | 0.7 | 27.0 | - | -2,434 | -0.9 | |||
| 1987-88 | 83,491 | 25.8 | 82,039 | -0.9 | 0.0 | 25.3 | - | 1,452 | 0.4 | |||
| 1988-89 | 90,748 | 24.7 | 85,326 | -3.1 | -4.4 | 23.2 | - | 5,421 | 1.5 | |||
| 1989-90 | 98,625 | 24.4 | 92,684 | 0.6 | 1.7 | 22.9 | - | 5,942 | 1.5 | |||
| 1990‑91 | 100,227 | 24.2 | 100,665 | 3.1 | 3.8 | 24.3 | - | -438 | -0.1 | |||
| 1991‑92 | 95,840 | 22.7 | 108,472 | 5.7 | 5.9 | 25.6 | - | -12,631 | -3.0 | |||
| 1992‑93 | 97,633 | 22.0 | 115,751 | 5.6 | 5.9 | 26.1 | - | -18,118 | -4.1 | |||
| 1993‑94 | 103,824 | 22.3 | 122,009 | 3.5 | 4.4 | 26.1 | - | -18,185 | -3.9 | |||
| 1994‑95 | 113,458 | 22.9 | 127,619 | 1.4 | 2.5 | 25.8 | - | -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 | 25.2 | 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 | 25.6 | 197,243 | 1.4 | 1.4 | 24.6 | - | 7,370 | 0.9 | |||
| 2003‑04 | 217,775 | 25.3 | 209,785 | 3.9 | 2.6 | 24.4 | - | 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 | 25.7 | 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 | 23.3 | 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 | 21.4 | 346,102 | -0.4 | -3.2 | 24.5 | 3,385 | -47,463 | -3.4 | |||
| 2011‑12 | 329,874 | 22.1 | 371,032 | 4.8 | 5.1 | 24.9 | 2,203 | -43,360 | -2.9 | |||
| 2012‑13 | 351,052 | 23.0 | 367,204 | -3.2 | -0.7 | 24.1 | 2,682 | -18,834 | -1.2 | |||
| 2013‑14 | 360,322 | 22.7 | 406,430 | 7.8 | 9.1 | 25.6 | 2,348 | -48,456 | -3.1 | |||
| 2014‑15 | 378,301 | 23.5 | 412,079 | -0.3 | 2.2 | 25.6 | 4,089 | -37,867 | -2.4 | |||
| 2015‑16(e) | 394,891 | 23.9 | 428,335 | 2.0 | 4.0 | 25.9 | 3,955 | -37,399 | -2.3 | |||
| 2016‑17(e) | 415,327 | 24.1 | 445,277 | 1.5 | 2.3 | 25.8 | 3,717 | -33,667 | -2.0 | |||
| 2017‑18(p) | 440,883 | 24.3 | 459,897 | 1.0 | 1.3 | 25.3 | 4,007 | -23,021 | -1.3 | |||
| 2018-19(p) | 473,531 | 24.8 | 483,295 | 2.5 | 3.0 | 25.3 | 4,465 | -14,229 | -0.7 | |||
(a) Data have been revised in the 2015‑16 MYEFO 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.
| Receipts | Payments | Net cash flows from investments in financial assets for policy purposes(b) | Headline cash balance(c) | ||||||
|---|---|---|---|---|---|---|---|---|---|
| $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 | -2.5 | -3,539 | -4.3 | |||
| 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 | 0.7 | |||
| 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 | 360,322 | 406,430 | -6,371 | -0.4 | -52,479 | -3.3 | |||
| 2014‑15 | 378,301 | 412,079 | -5,158 | -0.3 | -38,936 | -2.4 | |||
| 2015‑16(e) | 394,891 | 428,335 | -14,727 | -0.9 | -48,171 | -2.9 | |||
| 2016‑17(e) | 415,327 | 445,277 | -18,922 | -1.1 | -48,872 | -2.8 | |||
| 2017‑18(p) | 440,883 | 459,897 | -13,262 | -0.7 | -32,276 | -1.8 | |||
| 2018-19(p) | 473,531 | 483,295 | -14,044 | -0.7 | -23,808 | -1.2 | |||
(a) Data have been revised in the 2015‑16 MYEFO 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. Receipts and payment are identical to Table D1.
(e) Estimates.
(p) Projections.
| Taxation receipts(b) | Non-taxation receipts(b) | Total receipts(c) | ||||||
|---|---|---|---|---|---|---|---|---|
| $m | Per cent of GDP | $m | Per cent of GDP | $m | Per cent of GDP | |||
| 1970-71 | 7,193 | 17.9 | 1,097 | 2.7 | 8,290 | 20.6 | ||
| 1971-72 | 7,895 | 17.8 | 1,240 | 2.8 | 9,135 | 20.6 | ||
| 1972-73 | 8,411 | 16.9 | 1,324 | 2.7 | 9,735 | 19.6 | ||
| 1973-74 | 10,832 | 18.0 | 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 | 19.8 | 2,720 | 2.3 | 26,129 | 22.1 | ||
| 1979-80 | 27,473 | 20.5 | 2,848 | 2.1 | 30,321 | 22.6 | ||
| 1980-81 | 32,641 | 21.5 | 3,352 | 2.2 | 35,993 | 23.7 | ||
| 1981-82 | 37,880 | 21.6 | 3,619 | 2.1 | 41,499 | 23.6 | ||
| 1982-83 | 41,025 | 21.7 | 4,438 | 2.3 | 45,463 | 24.1 | ||
| 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 | 23.3 | 8,257 | 2.9 | 74,724 | 26.2 | ||
| 1987-88 | 75,076 | 23.2 | 8,415 | 2.6 | 83,491 | 25.8 | ||
| 1988-89 | 83,452 | 22.7 | 7,296 | 2.0 | 90,748 | 24.7 | ||
| 1989-90 | 90,773 | 22.5 | 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 | 20.7 | 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 | 22.3 | ||
| 1994‑95 | 104,921 | 21.2 | 8,537 | 1.7 | 113,458 | 22.9 | ||
| 1995‑96 | 115,700 | 21.9 | 8,729 | 1.7 | 124,429 | 23.5 | ||
| 1996‑97 | 124,559 | 22.4 | 9,033 | 1.6 | 133,592 | 24.0 | ||
| 1997‑98 | 130,984 | 22.3 | 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 | 25.2 | ||
| 2000‑01 | 170,354 | 24.2 | 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 | 25.6 | ||
| 2003‑04 | 206,478 | 24.0 | 11,296 | 1.3 | 217,775 | 25.3 | ||
| 2004‑05 | 223,723 | 24.3 | 12,262 | 1.3 | 235,984 | 25.6 | ||
| 2005‑06 | 241,681 | 24.2 | 14,262 | 1.4 | 255,943 | 25.7 | ||
| 2006‑07 | 257,973 | 23.7 | 14,665 | 1.3 | 272,637 | 25.1 | ||
| 2007‑08 | 279,018 | 23.7 | 15,899 | 1.3 | 294,917 | 25.0 | ||
| 2008‑09 | 273,379 | 21.7 | 19,221 | 1.5 | 292,600 | 23.3 | ||
| 2009‑10 | 261,864 | 20.2 | 22,798 | 1.8 | 284,662 | 22.0 | ||
| 2010‑11 | 281,767 | 20.0 | 20,257 | 1.4 | 302,024 | 21.4 | ||
| 2011‑12 | 310,972 | 20.9 | 18,902 | 1.3 | 329,874 | 22.1 | ||
| 2012‑13 | 327,589 | 21.5 | 23,464 | 1.5 | 351,052 | 23.0 | ||
| 2013‑14 | 339,962 | 21.5 | 20,359 | 1.3 | 360,322 | 22.7 | ||
| 2014‑15 | 353,494 | 22.0 | 24,807 | 1.5 | 378,301 | 23.5 | ||
| 2015‑16(e) | 368,230 | 22.3 | 26,661 | 1.6 | 394,891 | 23.9 | ||
| 2016‑17(e) | 389,125 | 22.5 | 26,202 | 1.5 | 415,327 | 24.1 | ||
| 2017‑18(p) | 413,172 | 22.8 | 27,711 | 1.5 | 440,883 | 24.3 | ||
| 2018-19(p) | 440,410 | 23.1 | 33,121 | 1.7 | 473,531 | 24.8 | ||
(a) Data have been revised in the 2015—16 MYEFO to improve accuracy and comparability through time.
(b) Visa application charges have been reclassified from non‑taxation receipts to taxation receipts to reflect a sustained change in the nature of receipts. This reclassification is reflected from 2015‑16 MYEFO and back-casting occurs from 2003‑04.
(c) Receipts are equal to receipts from operating activities and sales of non‑financial assets. Receipts are identical to Table D1.
(e) Estimates.
(p) Projections.
| 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 | 6.0 | 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 | 8.2 | 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 | 202,463 | 12.8 | 10,843 | 0.7 | |
| 2014‑15 | 238,721 | 14.8 | 10,868 | 0.7 | |
| 2015‑16(e) | 278,761 | 16.9 | 11,166 | 0.7 | |
| 2016‑17(e) | 316,520 | 18.3 | 11,916 | 0.7 | |
| 2017‑18(p) | 336,404 | 18.5 | 12,734 | 0.7 | |
| 2018-19(p) | 346,557 | 18.2 | 13,546 | 0.7 | |
(a) Data have been revised in the 2015‑16 MYEFO 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.
| Face value of CGS on issue(b) | Interest Paid(f) | |||||||
|---|---|---|---|---|---|---|---|---|
| Total CGS on issue(c) | Subject to Treasurer's direction(d) | |||||||
| End of year $m |
Per cent of GDP | End of year $m |
Per cent of GDP | $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 | 24.6 | - | - | 675 | 1.4 | ||
| 1973-74 | 12,809 | 21.3 | - | - | 712 | 1.2 | ||
| 1974-75 | 14,785 | 20.8 | - | - | 893 | 1.3 | ||
| 1975-76 | 17,940 | 21.6 | - | - | 1,001 | 1.2 | ||
| 1976-77 | 20,845 | 21.7 | - | - | 1,485 | 1.5 | ||
| 1977-78 | 23,957 | 22.9 | - | - | 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 | 19.9 | - | - | 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 | 23.2 | - | - | 5,952 | 2.5 | ||
| 1985-86 | 63,089 | 24.2 | - | - | 7,394 | 2.8 | ||
| 1986-87 | 67,172 | 23.5 | - | - | 8,339 | 2.9 | ||
| 1987-88 | 62,794 | 19.4 | - | - | 8,139 | 2.5 | ||
| 1988-89 | 56,854 | 15.5 | - | - | 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 | 20.0 | - | - | 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 | 13.2 | 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 | 319,481 | 20.2 | 316,952 | 20.0 | 13,972 | 0.9 | ||
| 2014‑15 | 368,738 | 22.9 | 366,202 | 22.8 | 13,924 | 0.9 | ||
| 2015‑16(e) | 429,000 | 26.0 | 426,000 | 25.8 | 15,040 | 0.9 | ||
| 2016‑17(e) | 489,000 | 28.3 | 486,000 | 28.1 | 15,922 | 0.9 | ||
| 2017‑18(p) | 526,000 | 29.0 | 523,000 | 28.8 | 16,784 | 0.9 | ||
| 2018-19(p) | 552,000 | 28.9 | 549,000 | 28.8 | 18,188 | 1.0 | ||
(a) Data have been revised in the 2015‑16 MYEFO to improve accuracy and comparability through time.
(b) From 2015‑16 onwards, data for CGS on issue are projections and are rounded to the nearest $1 billion.
(c) Total CGS on issue includes CGS held on behalf of the States and the Northern Territory, but excludes Commonwealth holdings of CGS.
(d) 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.
(e) Estimates.
(f) Interest paid consists of all cash interest payments of the general government sector, including those relating to CGS on issue.
(p) Projections.
| 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 | 25.5 | 145,821 | 26.2 | 90 | 0.0 | -4,223 | -0.8 | |||
| 1997‑98 | 146,820 | 24.9 | 148,652 | 25.3 | 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 | 186,106 | 26.4 | 180,090 | 25.5 | 8 | 0.0 | 6,007 | 0.9 | |||
| 2001‑02 | 190,432 | 25.3 | 192,984 | 25.6 | 382 | 0.1 | -2,935 | -0.4 | |||
| 2002‑03 | 206,778 | 25.8 | 201,113 | 25.1 | 287 | 0.0 | 5,377 | 0.7 | |||
| 2003‑04 | 222,042 | 25.8 | 215,235 | 25.0 | 660 | 0.1 | 6,148 | 0.7 | |||
| 2004‑05 | 242,354 | 26.3 | 229,092 | 24.8 | 1,034 | 0.1 | 12,228 | 1.3 | |||
| 2005‑06 | 260,569 | 26.1 | 241,665 | 24.2 | 2,498 | 0.3 | 16,406 | 1.6 | |||
| 2006‑07 | 277,895 | 25.6 | 258,761 | 23.8 | 2,333 | 0.2 | 16,801 | 1.5 | |||
| 2007‑08 | 303,402 | 25.8 | 279,862 | 23.8 | 2,593 | 0.2 | 20,948 | 1.8 | |||
| 2008‑09 | 298,508 | 23.7 | 324,188 | 25.8 | 4,064 | 0.3 | -29,743 | -2.4 | |||
| 2009‑10 | 292,387 | 22.5 | 339,829 | 26.2 | 6,433 | 0.5 | -53,875 | -4.2 | |||
| 2010‑11 | 309,204 | 21.9 | 355,667 | 25.2 | 5,297 | 0.4 | -51,760 | -3.7 | |||
| 2011‑12 | 337,324 | 22.6 | 377,220 | 25.3 | 4,850 | 0.3 | -44,746 | -3.0 | |||
| 2012‑13 | 359,496 | 23.6 | 381,980 | 25.1 | 987 | 0.1 | -23,472 | -1.5 | |||
| 2013‑14 | 374,151 | 23.6 | 414,047 | 26.1 | 3,850 | 0.2 | -43,746 | -2.8 | |||
| 2014‑15 | 380,746 | 23.7 | 417,898 | 26.0 | 2,706 | 0.2 | -39,857 | -2.5 | |||
| 2015‑16(e) | 400,953 | 24.3 | 432,234 | 26.2 | 4,484 | 0.3 | -35,765 | -2.2 | |||
| 2016‑17(e) | 423,200 | 24.5 | 451,206 | 26.1 | 4,745 | 0.3 | -32,751 | -1.9 | |||
| 2017‑18(p) | 452,581 | 24.9 | 465,892 | 25.7 | 4,103 | 0.2 | -17,415 | -1.0 | |||
| 2018-19(p) | 487,094 | 25.5 | 491,370 | 25.7 | 5,933 | 0.3 | -10,209 | -0.5 | |||
(a) Data have been revised in the 2015‑16 MYEFO to improve accuracy and comparability through time.
(b) Fiscal balance is equal to revenue less expenses less net capital investment.
(e) Estimates.
(p) Projections.
| 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 | -256,045 | -16.2 | -370,331 | -23.4 | ||
| 2014‑15 | -302,350 | -18.8 | -421,129 | -26.2 | ||
| 2015‑16(e) | -254,783 | -15.4 | -377,540 | -22.9 | ||
| 2016‑17(e) | -282,921 | -16.4 | -409,687 | -23.7 | ||
| 2017‑18(p) | -295,777 | -16.3 | -427,342 | -23.6 | ||
| 2018-19(p) | -300,744 | -15.8 | -438,199 | -23.0 | ||
(a) Data have been revised in the 2015‑16 MYEFO 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 total liabilities.
(e) Estimates.
(p) Projections.
| Taxation revenue(b) | Non-taxation revenue(b) | Total revenue | ||||||
|---|---|---|---|---|---|---|---|---|
| $m | Per cent of GDP | $m | Per cent of GDP | $m | Per cent of GDP | |||
| 1999‑00 | 153,409 | 23.2 | 13,895 | 2.1 | 167,304 | 25.3 | ||
| 2000‑01 | 175,876 | 24.9 | 10,229 | 1.5 | 186,106 | 26.4 | ||
| 2001‑02 | 178,154 | 23.6 | 12,278 | 1.6 | 190,432 | 25.3 | ||
| 2002‑03 | 195,057 | 24.4 | 11,719 | 1.5 | 206,778 | 25.8 | ||
| 2003‑04 | 210,220 | 24.4 | 11,822 | 1.4 | 222,042 | 25.8 | ||
| 2004‑05 | 230,198 | 25.0 | 12,155 | 1.3 | 242,354 | 26.3 | ||
| 2005‑06 | 245,512 | 24.6 | 15,056 | 1.5 | 260,569 | 26.1 | ||
| 2006‑07 | 262,576 | 24.2 | 15,320 | 1.4 | 277,895 | 25.6 | ||
| 2007‑08 | 286,544 | 24.3 | 16,858 | 1.4 | 303,402 | 25.8 | ||
| 2008‑09 | 278,981 | 22.2 | 19,528 | 1.6 | 298,508 | 23.7 | ||
| 2009‑10 | 268,512 | 20.7 | 23,875 | 1.8 | 292,387 | 22.5 | ||
| 2010‑11 | 289,247 | 20.5 | 19,957 | 1.4 | 309,204 | 21.9 | ||
| 2011‑12 | 317,023 | 21.3 | 20,301 | 1.4 | 337,324 | 22.6 | ||
| 2012‑13 | 337,823 | 22.2 | 21,673 | 1.4 | 359,496 | 23.6 | ||
| 2013‑14 | 352,884 | 22.3 | 21,267 | 1.3 | 374,151 | 23.6 | ||
| 2014‑15 | 357,176 | 22.2 | 23,570 | 1.5 | 380,746 | 23.7 | ||
| 2015‑16(e) | 375,923 | 22.8 | 25,030 | 1.5 | 400,953 | 24.3 | ||
| 2016‑17(e) | 397,541 | 23.0 | 25,659 | 1.5 | 423,200 | 24.5 | ||
| 2017‑18(p) | 422,522 | 23.3 | 30,059 | 1.7 | 452,581 | 24.9 | ||
| 2018-19(p) | 450,802 | 23.6 | 36,291 | 1.9 | 487,094 | 25.5 | ||
(a) Data have been revised in the 2015‑16 MYEFO to improve accuracy and comparability through time.
(b) Visa application charges have been reclassified from non‑taxation revenue to taxation revenue to reflect a sustained change in the nature of revenue. This reclassification is reflected from 2015‑16 MYEFO and back-casting occurs from 2003‑04.
(e) Estimates.
(p) Projections.
| 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 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 | 14,809 | ||
| 2006‑07 | 272,637 | 253,321 | 17,190 | 16,882 | 18,641 | -1,759 | 285,336 | 267,778 | 17,566 | ||
| 2007‑08 | 294,917 | 271,843 | 19,754 | 7,758 | 8,232 | -473 | 300,503 | 277,903 | 22,651 | ||
| 2008‑09 | 292,600 | 316,046 | -27,013 | 7,987 | 8,960 | -973 | 297,421 | 321,841 | -24,352 | ||
| 2009‑10 | 284,662 | 336,900 | -54,494 | 8,419 | 9,341 | -922 | 290,681 | 343,841 | -52,904 | ||
| 2010‑11 | 302,024 | 346,102 | -47,463 | 8,558 | 9,733 | -1,175 | 308,258 | 353,511 | -44,970 | ||
| 2011‑12 | 329,874 | 371,032 | -43,360 | 8,845 | 10,847 | -2,002 | 336,122 | 379,282 | -42,779 | ||
| 2012‑13 | 351,052 | 367,204 | -18,834 | 9,766 | 14,135 | -4,369 | 358,088 | 378,609 | -20,521 | ||
| 2013‑14 | 360,322 | 406,430 | -48,456 | 11,042 | 16,322 | -5,280 | 368,521 | 419,910 | -51,388 | ||
| 2014‑15 | 378,301 | 412,079 | -37,867 | 11,256 | 15,544 | -4,288 | 386,643 | 424,709 | -38,067 | ||
| 2015‑16(e) | 394,891 | 428,335 | -37,399 | 11,993 | 19,868 | -7,876 | 404,433 | 445,753 | -41,320 | ||
| 2016‑17(e) | 415,327 | 445,277 | -33,667 | na | na | na | na | na | na | ||
| 2017‑18(p) | 440,883 | 459,897 | -23,021 | na | na | na | na | na | na | ||
| 2018-19(p) | 473,531 | 483,295 | -14,229 | na | na | na | na | na | na | ||
(a) Data have been revised in the 2015‑16 MYEFO 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, distributions paid 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 D1.
(e) Estimates.
(p) Projections.
na Data not available.
| 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 | 186,106 | 180,090 | 6,007 | 25,869 | 24,762 | -826 | 207,367 | 200,246 | 5,181 | ||
| 2001‑02 | 190,432 | 192,984 | -2,935 | 26,638 | 25,341 | 793 | 212,462 | 213,718 | -2,142 | ||
| 2002‑03 | 206,778 | 201,113 | 5,377 | 24,339 | 22,916 | 1,975 | 225,989 | 218,944 | 7,311 | ||
| 2003‑04 | 222,042 | 215,235 | 6,148 | 25,449 | 23,444 | 2,143 | 241,746 | 232,934 | 8,291 | ||
| 2004‑05 | 242,354 | 229,092 | 12,228 | 26,965 | 25,191 | 1,473 | 263,434 | 248,398 | 13,700 | ||
| 2005‑06 | 260,569 | 241,665 | 16,406 | 28,143 | 29,531 | -2,442 | 281,927 | 264,410 | 13,964 | ||
| 2006‑07 | 277,895 | 258,761 | 16,801 | 15,443 | 16,360 | -1,763 | 289,551 | 271,335 | 15,038 | ||
| 2007‑08 | 303,402 | 279,862 | 20,948 | 6,854 | 6,686 | -584 | 308,888 | 285,179 | 20,364 | ||
| 2008‑09 | 298,508 | 324,188 | -29,743 | 6,998 | 7,576 | -1,495 | 303,309 | 329,566 | -31,238 | ||
| 2009‑10 | 292,387 | 339,829 | -53,875 | 7,288 | 7,297 | -1,079 | 298,033 | 345,483 | -54,954 | ||
| 2010‑11 | 309,204 | 355,667 | -51,760 | 7,563 | 7,787 | -1,446 | 315,001 | 361,689 | -53,205 | ||
| 2011‑12 | 337,324 | 377,220 | -44,746 | 8,046 | 8,238 | -2,158 | 343,722 | 383,810 | -46,904 | ||
| 2012‑13 | 359,496 | 381,980 | -23,472 | 8,863 | 9,415 | -4,189 | 366,642 | 389,678 | -27,661 | ||
| 2013‑14 | 374,151 | 414,047 | -43,746 | 9,537 | 11,127 | -6,070 | 381,971 | 423,457 | -49,816 | ||
| 2014‑15 | 380,746 | 417,898 | -39,857 | 9,987 | 11,850 | -4,856 | 389,011 | 428,025 | -44,713 | ||
| 2015‑16(e) | 400,953 | 432,234 | -35,765 | 9,967 | 12,562 | -7,111 | 409,720 | 443,596 | -42,875 | ||
| 2016‑17(e) | 423,200 | 451,206 | -32,751 | na | na | na | na | na | na | ||
| 2017‑18(p) | 452,581 | 465,892 | -17,415 | na | na | na | na | na | na | ||
| 2018-19(p) | 487,094 | 491,370 | -10,209 | na | na | na | na | na | na | ||
(a) Data have been revised in the 2015‑16 MYEFO 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.
1 Prior to the 2008‑09 Budget, cash data calculated under the cash accounting framework was used up to and including 1998‑99. In the 2008‑09 Budget, cash data prior to 1998‑99 have been replaced by ABS data derived from the accrual framework.