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Budget 2005 Home Page Half-Year Economic & Fiscal Update 2005

Forecast Statement of Financial Performance

for the years ending 30 June
    2005 2006Previous 2006 2007 2008 2009 2010
($ million) Note Actual Budget Forecast Forecast Forecast Forecast Forecast
Revenue                
Taxation revenue 1 46,624 48,102 49,249 50,821 52,253 53,760 57,984
Levies, fees, fines and penalties 1 3,115 3,206 3,158 3,257 3,312 3,378 3,427
Total Revenue Levied through the Crown's Sovereign Power 1 49,739 51,308 52,407 54,078 55,565 57,138 61,411
Sales of goods and services 2 11,331 11,850 12,225 12,843 13,196 13,792 14,311
Investment income 3 3,814 3,322 3,293 3,332 3,611 3,957 4,323
Other revenue 4 2,181 2,290 1,850 1,888 2,218 2,198 2,086
Total Revenue Earned through the Crown's Operations   17,326 17,462 17,368 18,063 19,025 19,947 20,720
Total Crown Revenue   67,065 68,770 69,775 72,141 74,590 77,085 82,131
Expenses                
By input type                
Subsidies and transfer payments 5 15,844 17,002 17,077 18,401 19,651 20,353 21,117
Personnel expenses 6 13,562 14,483 14,656 14,913 15,154 15,264 15,367
Operating expenses 7 25,314 27,123 29,062 28,339 29,305 29,911 30,523
New operating spending up to Budget 2006 8 ..  271 106 1,331 1,200 1,190 1,213
Forecast new operating spending 8 ..  ..  ..  ..  1,814 3,692 5,614
Finance costs   2,760 2,792 2,795 2,777 2,925 2,929 2,876
Net foreign-exchange (gains)/losses   (17) ..  4 ..  ..  ..  .. 
Movement in total GSF liability 15 1,410 (24) 293 11 (38) (88) (134)
Movement in total ACC liability 16 2,037 597 358 609 609 600 597
Total Crown expenses   60,910 62,244 64,351 66,381 70,620 73,851 77,173
Revenues less Expenses   6,155 6,526 5,424 5,760 3,970 3,234 4,958
Net surplus of TEIs   133 139 133 133 133 133 133
Operating balance (including minority interest)   6,288 6,665 5,557 5,893 4,103 3,367 5,091
Minority interest   (41) ..  ..  ..  ..  ..  .. 
Operating Balance   6,247 6,665 5,557 5,893 4,103 3,367 5,091

The revenues and expenses are GST exclusive.

The accompanying Notes and Accounting policies are an integral part of these Statements.

Forecast Statement of Financial Performance (continued)

Below is an analysis of total Crown expenses and core Crown expenses by functional classification. This information reconciles to segmental information within the Statement of Segments.

for the years ending 30 June
  2005 2006 Previous 2006 2007 2008 2009 2010
($ million) Actual Budget Forecast Forecast Forecast Forecast Forecast
Total Crown expenses by functional classification              
Social security and welfare 18,522 18,173 18,194 19,876 21,116 21,832 22,607
GSF pension expenses 2,442 1,019 1,429 1,095 1,079 1,063 1,034
Health 8,444 9,330 9,436 9,714 9,792 9,853 9,866
Education 8,619 9,163 10,467 9,241 9,663 9,812 9,906
Core government services 2,085 2,009 2,019 1,999 2,093 2,107 2,096
Law and order 2,131 2,364 2,394 2,459 2,480 2,497 2,501
Defence 1,229 1,290 1,347 1,400 1,478 1,555 1,640
Transport and communications 5,948 6,520 6,400 6,786 6,980 7,085 7,290
Economic and industrial services 4,859 5,411 5,665 5,775 6,047 6,187 6,427
Primary services 1,128 1,236 1,225 1,181 1,189 1,197 1,204
Heritage, culture and recreation 2,032 1,810 2,038 1,797 1,820 1,878 1,933
Housing and community development 697 739 781 845 867 897 889
Other 31 117 51 105 77 77 77
Finance costs 2,760 2,792 2,795 2,777 2,925 2,929 2,876
Net foreign-exchange (gains)/losses (17) ..  4 ..  ..  ..  .. 
New operating spending up to Budget 2006 ..  271 106 1,331 1,200 1,190 1,213
Forecast new operating spending ..  ..  ..  ..  1,814 3,692 5,614
Total Crown Expenses 60,910 62,244 64,351 66,381 70,620 73,851 77,173
               
Core Crown expenses by functional classification              
Social security and welfare 14,682 15,611 15,850 17,091 18,225 18,805 19,444
GSF pension expenses 2,442 1,019 1,430 1,095 1,079 1,063 1,034
Health 8,813 9,666 9,839 10,261 10,358 10,441 10,475
Education 7,930 8,681 10,033 8,878 9,034 9,059 9,155
Core government services 2,217 2,098 2,182 2,107 2,176 2,171 2,162
Law and order 1,977 2,177 2,193 2,232 2,244 2,252 2,244
Defence 1,275 1,341 1,377 1,430 1,508 1,584 1,670
Transport and communications 1,635 1,895 1,893 2,115 2,256 2,416 2,412
Economic and industrial services 1,444 1,679 1,711 1,646 1,798 1,689 1,732
Primary services 394 445 473 421 418 416 417
Heritage, culture and recreation 991 786 1,042 767 765 769 773
Housing and community development 163 214 218 260 259 250 241
Other 32 117 51 107 77 77 78
Finance costs 2,274 2,245 2,250 2,147 2,195 2,165 2,118
Net foreign-exchange (gains)/losses (35) ..  17 ..  ..  ..  .. 
New operating spending up to Budget 2006 ..  271 106 1,331 1,200 1,190 1,213
Forecast new operating spending ..  ..  ..  ..   1,814 3,692 5,614
Total Core Crown Expenses 46,234 48,245 50,665 51,888 55,406 58,039 60,782

The accompanying Notes and Accounting policies are an integral part of these Statements.

 

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