Budget overview
This Budget is the next stage in the Government's economic plan, building on commitments from the 2016-17 Budget and the 2016 election.
Appendix A
Budget aggregates
The table below shows the main cash and accrual budget aggregates for the Australian Government general government sector over the period 2015-16 to 2020-21. The underlying cash deficit is estimated to be $29.4 billion in 2017-18. The net operating deficit is estimated to be $19.8 billion in 2017-18
| Actual | Estimates | Projections | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | Total(a) | ||||
| $b | $b | $b | $b | $b | $b | $b | ||||
| Receipts | 386.9 | 405.7 | 433.5 | 462.5 | 496.9 | 526.3 | 1,919.2 | |||
| Per cent of GDP | 23.4 | 23.2 | 23.8 | 24.4 | 25.1 | 25.4 | ||||
| Payments(b) | 423.3 | 440.5 | 459.7 | 480.4 | 495.6 | 518.9 | 1,954.6 | |||
| Per cent of GDP | 25.6 | 25.1 | 25.2 | 25.4 | 25.0 | 25.0 | ||||
| Net Future Fund earnings(c) | 3.2 | 2.8 | 3.2 | 3.5 | 3.7 | na | 10.5 | |||
| Underlying cash balance(d) | -39.6 | -37.6 | -29.4 | -21.4 | -2.5 | 7.4 | -45.9 | |||
| Per cent of GDP | -2.4 | -2.1 | -1.6 | -1.1 | -0.1 | 0.4 | ||||
| Revenue | 395.1 | 412.1 | 444.4 | 476.1 | 510.8 | 540.4 | 1,971.7 | |||
| Per cent of GDP | 23.9 | 23.5 | 24.4 | 25.2 | 25.8 | 26.0 | ||||
| Expenses | 428.7 | 450.8 | 464.3 | 486.9 | 503.2 | 522.9 | 1,977.2 | |||
| Per cent of GDP | 25.9 | 25.7 | 25.5 | 25.7 | 25.4 | 25.2 | ||||
| Net operating balance | -33.6 | -38.7 | -19.8 | -10.8 | 7.6 | 17.5 | -5.5 | |||
| Per cent of GDP | -2.0 | -2.2 | -1.1 | -0.6 | 0.4 | 0.8 | ||||
| Net capital investment | 3.8 | 2.0 | 0.5 | 4.8 | 4.9 | 6.0 | 16.2 | |||
| Fiscal balance | -37.5 | -40.7 | -20.3 | -15.5 | 2.7 | 11.4 | -21.7 | |||
| Per cent of GDP | -2.3 | -2.3 | -1.1 | -0.8 | 0.1 | 0.6 | ||||
| Memorandum items: | ||||||||||
| Net Future Fund earnings(c) | 3.2 | 2.8 | 3.2 | 3.5 | 3.7 | 4.0 | 14.5 | |||
| Headline cash balance | -49.1 | -51.1 | -48.4 | -37.1 | -14.8 | 11.7 | -88.7 |
(a) Total is equal to the sum of amounts from 2017-18 to 2020-21.
(b) Equivalent to cash payments for operating activities, purchases of non-financial assets and net acquisition of assets under finance leases.
(c) Under the Future Fund Act 2006, net Future Fund earnings will be available to meet the Government superannuation liability in 2020-21. From this time, the underlying cash balance includes expected net Future Fund earnings.
(d) Excludes expected net Future Fund earnings before 2020-21.