The general government sector recorded an operating surplus of $628 million for the first three months of 2025-26.
General government revenue was $898 million higher than the September quarter last year, largely due to the impact of higher tax collections, Commonwealth grants, and royalty income. Expenses were $692 million higher compared to the same period last year, mainly due to higher employee costs (particularly for the health and education sectors) and non-salary operating costs for agencies, partly offset by lower grants and subsidy expenses.
The State’s Asset Investment Program totalled $2.8 billion for the three months to 30 September 2025, which was slightly lower than the $3.1 billion asset investment spend for the same quarter in 2024-25. Total public sector net debt was $31.5 billion at 30 September 2025, $1.4 billion higher than the outcome recorded at 30 June 2025.
Care should be exercised in extrapolating the likely outcome for the 2025-26 year based on the quarterly results to date, particularly in light of the seasonal and other timing factors that impact the State’s finances. Further updates to the State Finances will be provided in the 2025-26 Government Mid-year Financial Projections Statement (due for release by 31 December 2025).
Print this page
