2020-21 Budget Paper No. 1 - Budget Statement - Charts and ...



Chart, FIGURE and Table ListPageChapter 1:Budget Overview1Economic activity and employment take time to rebound from pre-COVID-19 lowChart 1.11-4Key Budget aggregates for the general government sectorTable 1.11-5Budget result: 2020-21 Budget compared to the 2019-20 Half-Yearly ReviewChart 1.21-6General government revenues and expenses as a share of GSPChart 1.31-7Chapter 2:The Economy2Economic performance and outlookTable 2.12-1Economic impact of COVID-19 around Australia (June Qtr)Chart 2.12-2Plunge in net overseas migration has slowed NSW population growth to a crawlChart 2.22-2Consumers have chosen to save during the pandemicChart 2.32-4Online spending accelerated as people were forced to stay at home.Chart 2.42-4Business confidence stabilisesChart 2.52-5GDP growth in selected countriesChart 2.62-5The correlation between containment and economic impact is mixedChart 2.72-6International students in NSWChart 2.82-7Number of monthly overseas arrivals in NSWChart 2.92-7NSW businesses on JobKeeperChart 2.102-9Individuals on JobSeekerChart 2.112-9Public demand stepped in as private demand weakenedChart 2.122-10NSW non-residential building approvals plummetChart 2.132-10The pace of easing containment measures has slowedChart 2.142-12Major trading partner GDP outlookChart 2.152-12NSW population revisionsChart 2.162-13GSP & GSP per capita revisionsChart 2.172-13NSW unemployment rate to improve graduallyChart 2.182-14Participation rate by age-cohort-NSWChart 2.192-14Chapter 3:Fiscal Strategy and Outlook3NGF Projected Fund Balance Chart 3.13-4Medium term projection for general government operating position over GSPChart 3.23-5General government sector budget result aggregates Table 3.13-6Revenue and Expenses from 2011-12 to 2023-24Chart 3.33-6Reconciliation of 2019-20 Budget to 2020-21 BudgetTable 3.23-7Non-financial public sector (NFPS) capital expenditure by cluster over the four years to 2023-24Chart 3.43-8How the balance sheet is supporting the GGS 5-year capital programChart 3.53-9Projected net debt to GSP over the medium-termChart 3.63-10Chapter 4:Revenue4New taxation revenue measuresTable 4.14-3Other new revenue measuresTable 4.24-7Changes in 2019-20 revenue – 2019-20 Half-Yearly Review to 2020-21 BudgetChart 4.14-8Composition of total revenue, 2020-21Chart 4.24-9General government sector - summary of revenueTable 4.34-9Deviations in total revenue since 2019-20 Half-Yearly ReviewChart 4.34-10National GST pool ($ billions)Chart 4.44-11Revenue reconciliationTable 4.44-12General government sector – summary of taxation revenue Table 4.54-13The composition of annual taxation revenue can fluctuateChart 4.54-14Payroll tax annual growthChart 4.64-15Residential transaction volumes (quarterly)Chart 4.74-15Grant revenueTable 4.64-17GST (including ‘no worse off’) revenues to NSW – reconciliation statementTable 4.74-18National Agreement payments to New South WalesTable 4.84-20National Partnership payments to New South WalesTable 4.94-21Sale of goods and services Table 4.104-23Fines, regulatory fees, licences and other revenuesTable 4.114-25Chapter 5:Expenditure5Expense reconciliation since the 2019-20 Half-Yearly ReviewTable 5.15-4Savings, reprioritisation and offset measuresTable 5.25-9General governments sector expenses Table 5.35-9Composition of 2020-21 expensesChart 5.15-10Employee expense growth from 2007-08 to 2023-24 Chart 5.25-10Composition of grants and subsidies in 2020-21 by recipientChart 5.35-12Capital expenditure reconciliationTable 5.45-14General government sector capital expenditure since 2000-01Chart 5.45-15General government sector capital spending relative to GSPChart 5.55-16$98.1 billion in recurrent expenditure, by COFOG-A category (2020-21)Chart 5.65-17$22.6 billion in capital expenditure, by COFOG-A category (2020-21)Chart 5.75-17General government recurrent and capital expenditure by functionChart 5.85-19Chapter 6:Managing the State’s Assets and Liabilities 6Key balance sheet aggregates of the general government sectorTable 6.16-2Growth of investments used in the calculation of net debtChart 6.16-3General government sector net debt Chart 6.26-5General government borrowings vs debt serviceabilityChart 6.36-6NSW general government sector net worth to increase by $20.0 billion over the next four yearsChart 6.46-6General government sector net worth of Australian States and Territories at June 2020Chart 6.56-7General government sector financial assets reflect asset divestments and cash management reformsChart 6.66-7General government sector non-financial assets increasing over timeChart 6.76-8Liabilities stable over the forward estimates Chart 6.86-9General government superannuation liabilities – AASB 119 vs AASB 1056Chart 6.96-10Chapter 7:Commercial Performance in the Broader Public Sector7The public sector and its commercial operationsFigure 7.17-2Capital expenditure of the public non-financial corporations’ sectorChart 7.17-7Dividends and tax equivalent payments from public non-financial corporations and public financial corporationsTable 7.17-9Appendix A1:Statement of FinancesA1General government sector operating statementTable A1.1A1-6General government sector balance sheet Table A1.2A1-8General government sector cash flow statementTable A1.3A1-9General government sector taxes Table A1.4A1-10General government sector grant revenue and expenseTable A1.5A1-11General government sector dividend and income tax equivalent incomeTable A1.6A1-12General government sector expenses by functionTable A1.7A1-12General government sector purchases of non-financial assets by function Table A1.8A1-12Public non-financial corporations sector operating statement Table A1.9A1-13Public non-financial corporations sector balance sheet Table A1.10A1-15Public non-financial corporations sector cash flow statementTable A1.11A1-16Non-financial public sector operating statementTable A1.12A1-17Non-financial public sector balance sheet Table A1.13A1-19Non-financial public sector cash flow statementTable A1.14A1-20Appendix A2:Tax Expenditure and Concessional Charges StatementA2Major tax expenditures by typeTable A2.1A2-2Concessions by functionTable A2.2A2-3Transfer duty – major tax expendituresTable A2.3A2-4General insurance duty – major tax expendituresTable A2.4A2-6Life insurance duty – major tax expendituresTable A2.5A2-7Motor vehicle stamp duty – major tax expenditures Table A2.6A2-8Payroll tax – major tax expenditures Table A2.7A2-9Land tax – major tax expenditures Table A2.8A2-11Vehicle weight tax – major tax expenditures Table A2.9A2-14Motor vehicle registration fees – major tax expendituresTable A2.10A2-15Gambling and betting taxes – major tax expendituresTable A2.11A2-16Parking space levy – major tax expendituresTable A2.12A2-16Public order and safety – major concessionsTable A2.13A2-17Education – major concessionsTable A2.14A2-17Health – major concessionsTable A2.15A2-18Transport – major concessionsTable A2.16A2-19Housing and Community – major concessionsTable A2.17A2-19Economic affairs – major concessionsTable A2.18A2-21Recreation, culture and religion – major concessions Table A2.19A2-21Environmental protection – major concessionsTable A2.20A2-22Appendix A3:Variation Details of Appropriations during 2019-20A3Details of Appropriations affected by transfer of functions between GSF agencies during 2019-20Table A3.1A3-2Variation details of annual appropriations for Commonwealth Grants during 2019-20Table A3.2A3-3Details of the amounts authorised to be paid out of Consolidated Fund for exigencies of Government during 2019-20Table A3.3A3-4Details of the amounts authorised to be paid from State contingencies appropriation to the Treasurer during 2019-20Table A3.4A3-6Appendix A4:Classification of AgenciesA4Classification of agencies by sectorTable A4.1A4-2Appendix A5:Measures StatementA5New policy measures since the 2019-20 Half-Yearly ReviewTable A5.1A5-1Appendix B:Fiscal Risks and Budget SensitivitiesBForecasting revenue – What weighting is given to different variablesTable B.1B-2Revenue sensitivities – Payroll taxTable B.2B-2Revenue sensitivities – Transfer dutyTable B.3B-3Revenue sensitivities – GSTTable B.4B-3Revenue sensitivities – Coal royaltiesTable B.5B-4Expense sensitivitiesTable B.6B-5Financial markets and interest rates sensitivitiesTable B.7B-6Superannuation liabilities sensitivitiesTable B.8B-8Appendix C:Contingent Assets and LiabilitiesCGeneral government quantifiable contingent assetsTable C.1C-1General government non-quantifiable contingent assetsTable C.2C-2General government quantifiable contingent liabilitiesTable C.3C-2Commercial transaction-related non-quantifiable contingent liabilitiesTable C.4C-3Other non-quantifiable contingent liabilitiesTable C.5C-4Appendix D:Historical Fiscal IndicatorsDGeneral government sector operating statement aggregatesTable D.1D-2General government sector balance sheet and financing indicatorsTable D.2D-3Non-financial public sector operating statement aggregatesTable D.3D-4Non-financial public sector balance sheet and financing indicatorsTable D.4D-5Appendix E:Performance and Reporting Under the Fiscal Responsibility Act 2012EFiscal Responsibility Act 2012– object, targets and principlesTable E.1E-1New South Wales is one of four states rated triple-A by Moody’s and S&P GlobalTable E.2E-2Revenue and expense growthChart E.1E-3Taxation revenue, ratio to GSPChart E.2E-5Appendix F:Economic Scenario AnalysisFNet overseas migration to NSW will remain subdued for an extended period if a vaccine is delayed Chart F.1F-2Lower household consumption drives much of the decline in Gross State ProductChart F.2F-2International exports also decline but a fall in international imports helps to offset the impactChart F.3F-2The effect of a delayed vaccine on major economic parametersTable F.1F-3The effect of a delayed vaccine on major revenue parametersTable F.2F-3 ................
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