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Budget 2006 Home Page Half Year Economic & Fiscal Update 2006

Forecast Statement of Financial Performance

for the years ending 30 June
($ million) Note 2006 Actual Previous Budget 2007 Forecast 2008 Forecast 2009 Forecast 2010 Forecast 2011 Forecast
Revenue                
Taxation revenue 1 51,973 50,669 51,708 53,344 55,596 58,512 61,225
Levies, fees, fines and penalties 1 3,411 3,179 3,294 3,341 3,408 3,483 3,555
Forecast revenue allocation 1 ..  ..  ..  ..  (1,000) (1,000) (1,000)
Total Revenue Levied through the Crown's Sovereign Power 1 55,384 53,848 55,002 56,685 58,004 60,995 63,780
Sales of goods and services 2 13,337 12,715 12,566 12,868 13,402 13,967 14,415
Investment income 3 5,828 3,687 5,115 4,803 5,255 5,480 5,911
Other revenue 4 2,032 2,361 2,294 2,332 2,390 2,376 2,383
Total Revenue Earned through the Crown's Operations   21,197 18,763 19,975 20,003 21,047 21,823 22,709
Total Crown Revenue   76,581 72,611 74,977 76,688 79,051 82,818 86,489
Expenses                
By input type                
Subsidies and transfer payments 5 16,850 18,189 18,031 19,046 19,709 20,680 21,478
Personnel expenses 6 15,116 15,136 15,537 15,828 16,087 16,152 16,286
Operating expenses 7 29,277 29,820 30,403 30,565 30,967 31,418 31,999
New operating spending up to Budget 2007 8 ..  320 216 5 106 8 8
Forecast new operating spending 8 ..  ..  ..  1,381 3,213 5,093 7,013
Finance costs   2,652 2,854 2,978 3,078 3,114 3,048 3,171
Net foreign-exchange (gains)/losses   (411) ..  498 ..  ..  ..  .. 
Movement in total GSF liability 15 279 (17) 299 45 (16) (97) (153)
Movement in total ACC liability 16 1,321 674 828 740 746 762 781
Total Crown expenses   65,084 66,976 68,790 70,688 73,926 77,064 80,583
Revenues less Expenses   11,497 5,635 6,187 6,000 5,125 5,754 5,906
Net surplus of TEIs   54 133 73 71 72 72 73
Operating balance (including minority interest)   11,551 5,768 6,260 6,071 5,197 5,826 5,979
Minority interest   (78) ..  ..  ..  ..  ..  .. 
Operating Balance   11,473 5,768 6,260 6,071 5,197 5,826 5,979

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
($ million) 2006 Actual 2007 Previous Budget 2007 Forecast 2008 Forecast 2009 Forecast 2010 Forecast 2011 Forecast
Total Crown expenses by functional classification            
Social security and welfare 18,969 19,706 20,028 20,891 21,623 22,405 23,223
GSF pension expenses 1,671 1,051 1,422 1,145 1,121 1,062 1,027
Health 9,262 10,305 10,111 10,056 10,147 10,122 10,129
Education 10,430 9,892 10,166 10,115 10,150 10,271 10,381
Core government services 2,046 2,031 2,103 2,042 2,064 2,037 2,367
Law and order 2,420 2,604 2,702 2,830 2,852 2,856 2,847
Defence 1,339 1,405 1,461 1,554 1,613 1,701 1,788
Transport and communications 5,986 6,853 6,617 6,798 6,978 7,229 7,187
Economic and industrial services 6,334 5,896 6,007 6,238 6,366 6,585 6,738
Primary services 1,219 1,198 1,277 1,258 1,270 1,272 1,272
Heritage, culture and recreation 2,361 1,900 2,155 2,288 2,293 2,342 2,397
Housing and community development 758 851 938 930 937 954 956
Other 48 110 111 79 79 79 79
Finance costs 2,652 2,854 2,978 3,078 3,114 3,048 3,171
Net foreign-exchange (gains)/losses (411) ..   498 ..  ..  ..  .. 
New operating spending up to Budget 2007 ..  320 216 5 106 8 8
Forecast new operating spending ..  ..  ..  1,381 3,213 5,093 7,013
Total Crown Expenses 65,084 66,976 68,790 70,688 73,926 77,064 80,583
Core Crown expenses by functional classification          
Social security and welfare 15,598 16,956 16,970 17,758 18,345 18,975 19,636
GSF pension expenses 1,671 1,051 1,422 1,145 1,121 1,062 1,027
Health 9,547 10,732 10,673 10,675 10,786 10,832 10,826
Education 9,914 9,068 9,640 9,508 9,571 9,662 9,750
Core government services 2,169 2,301 2,323 2,277 2,259 2,239 2,411
Law and order 2,235 2,393 2,488 2,612 2,622 2,617 2,613
Defence 1,383 1,457 1,519 1,603 1,663 1,750 1,837
Transport and communications 1,818 2,524 2,481 2,558 2,715 2,689 2,596
Economic and industrial services 1,592 1,721 1,716 1,908 1,802 1,763 1,759
Primary services 467 441 490 452 444 439 433
Heritage, culture and recreation 1,194 812 834 879 799 802 808
Housing and community development 202 278 305 280 261 258 260
Other 49 110 112 79 80 80 80
Finance costs 2,356 2,090 2,498 2,457 2,372 2,285 2,422
Net foreign-exchange (gains)/losses (295) ..  276 ..  ..  ..  .. 
New operating spending up to Budget 2007 ..  320 216 5 106 8 8
Forecast new operating spending ..  ..  ..  1,381 3,213 5,093 7,013
Total Core Crown Expenses 49,900 52,254 53,963 55,577 58,159 60,554 63,479

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

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