Source: http://www.budget.gov.au/2014-15/content/bp1/html/bp1_bst7_chart_data.htm
Timestamp: 2017-12-18 12:43:57
Document Index: 96525491

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Budget 2014-15 - Budget Paper 1 - Statement 7 - Chart data
Budget Paper 1 — Statement 7 - Chart data
Chart 1: Total face value of CGS on issue 2013-14 MYEFO vs 2014-15 Budget
Note: A tax-to-GDP cap of 23.9 per cent has been applied to these projections. This is the average tax-to-GDP ratio in the years post-GST and pre-GFC. MYEFO tax-cap projection was not published at MYEFO.
In the scenario with a tax cap, CGS on issue in 2023-24 is expected to be around $390 billion in 2023-24, compared to $750 billion at MYEFO.
CGS is projected to peak at $457 billion in 2018-19, then falling every year to $362 in 2024-25.
Data - Chart 1: Total face value of CGS on issue 2013-14 MYEFO vs 2014-15 Budget
$ billon
Chart 2: Non-resident holdings of Commonwealth Government Securities
This chart shows that the proportion of Commonwealth Government Securities (CGS) held by non-residents remains around historically high levels, having risen significantly since 2009. As at the December quarter 2013, 67.5 per cent of total CGS on issue were held by non-residents of Australia.
Data - Chart 2: Non-resident holdings of Commonwealth Government Securities
of CGS (LHS) ($b)
(RHS) (per cent)
22.5 42.4 34.7
22.5 36.2 38.4
24.3 33.9 41.7
26.5 32.7 44.7
28.0 32.2 46.5
27.4 30.6 47.2
29.7 29.1 50.6
31.9 28.1 53.2
34.4 27.8 55.3
34.5 22.8 60.2
33.6 25.5 56.8
31.8 27.4 53.7
32.6 26.3 55.3
35.0 25.5 57.9
32.0 23.3 57.8
30.3 26.3 53.5
32.6 23.9 57.7
34.4 24.4 58.6
39.2 17.6 69.0
37.6 20.8 64.4
35.9 22.5 61.4
37.2 22.6 62.2
44.2 23.1 65.7
46.4 34.1 57.6
51.9 55.4 48.4
65.2 46.0 58.6
72.8 50.6 59.0
90.4 47.9 65.4
105.0 52.4 66.7
117.0 55.0 68.0
125.7 56.0 69.2
132.7 60.2 68.8
140.9 60.9 69.8
164.5 64.3 71.9
185.0 64.8 74.1
198.0 63.2 75.8
204.6 65.2 75.8
205.6 81.9 71.5
204.4 91.4 69.1
203.5 95.8 68.0
196.6 89.1 68.8
209.5 98.9 67.9
216.6 104.4 67.5
Chart 3: Yield curve assumptions from 2013-14 to 2017-18
This chart shows the yield curve assumptions underpinning the 2013-14 Budget, 2013-14 MYEFO and 2014-15 Budget. The assumed market yields at the 2014-15 Budget result in a weighted average cost of borrowing of around 3.7 per cent for future issuance of Treasury Bonds in the forward estimates period, compared with around 3.9 per cent at the 2013-14 MYEFO.
Data - Chart 3: Yield curve assumptions from 2013-14 to 2017-18
x values (maturities)
nfp nfp nfp
nfp = not for publication.
Chart 4: Recurrent and capital spending as a proportion of the Budget in 2014-15
(a) Recurrent payments excluding payments to states and territories include pension and income support payments, government loans, payments to government employees, payments for goods and services, and grants and subsidies not made for capital purposes.
(b) Other capital purchases include the purchase of land and buildings, software and other facilities.
(c) Capital grants and subsidies include payments to recipients other than those within the general government, for example local governments.
(d) State and territory payments include payments for general revenue assistance (including Goods and Services Tax payments) and specific purpose payments.
This chart provides a breakdown of the Government's 2014-15 recurrent and capital budgets. The capital budget is estimated to make up around 9 per cent of the 2014-15 Total Budget.
Data - Chart 4: Recurrent and capital spending as a proportion of the Budget in 2014-15
Total Budget ($million)
Other recurrent payments (excluding states and territories)
Capital Budget ($million)
Other capital grants and subsidies
Chart 5: Decrease in projected defined benefit superannuation liabilities as a result of the closure of the MSBS
This chart shows the Government’s projected unfunded superannuation liability out to 30 June 2050. The chart shows that the policy decision to close the Military Superannuation and Benefits Scheme to new members from 1 July 2016 will decrease the Government’s projected unfunded superannuation liability by $126 billion by 2050.
Data - Chart 5: Decrease in projected defined benefit superannuation liabilities as a result of the closure of the MSBS
if MSBS
41.78 56.78 56.67 1.79 157.02
45.22 56.64 59.34 1.84 163.04
48.75 56.38 62.01 1.89 169.15
52.39 56.00 64.77 1.93 175.37
56.12 55.50 67.55 1.97 181.69
59.94 54.90 70.35 1.99 188.10
63.77 54.18 73.17 2.03 194.56
67.69 53.36 75.99 2.06 201.13
71.67 52.44 78.84 2.09 207.81
75.65 51.42 81.68 2.12 214.52
79.63 50.31 84.52 2.15 221.28
83.57 49.11 87.35 2.17 228.06
87.45 47.82 90.17 2.20 234.84
91.25 46.46 92.97 2.22 241.61
94.91 45.01 95.75 2.24 248.32
98.45 43.50 98.51 2.27 255.03
101.83 41.93 101.23 2.29 261.69
105.04 40.29 103.92 2.31 268.30
108.01 38.60 106.56 2.33 274.80
110.77 36.86 109.13 2.35 281.24
113.26 35.08 111.63 2.38 287.57
115.44 33.28 114.06 2.40 293.76
117.25 31.45 116.40 2.42 299.78
118.70 29.61 118.64 2.45 305.65
119.83 27.77 120.74 2.47 311.39
120.55 25.93 122.71 2.50 316.95
120.86 24.11 124.52 2.53 322.35
120.70 22.31 126.18 2.57 327.56
120.07 20.55 127.64 2.61 332.57
118.94 18.84 128.92 2.64 337.37
117.31 17.18 129.99 2.69 342.00
115.24 15.58 130.84 2.73 346.51
112.77 14.05 131.46 2.79 350.98
109.91 12.60 131.87 2.86 355.46
106.72 11.22 132.09 2.92 360.03
103.22 9.94 132.14 2.99 364.75
99.48 8.74 132.05 3.06 369.69
33.30 56.19 47.29 1.59 138.37
36.60 55.86 49.12 1.76 143.33