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11134
Upward adjustment of government income in 2006
statistikk
2007-11-20T10:00:00.000Z
Public sector;Public sector
en
offinnut, General government revenue and expenditure, central government, local government, taxes, duties, national insurance contributions, pension premiums, revenue by type (for example fines, fees, tolls), expenditure by type (for example disability pension, child benefit, subsidies), expenditure by function (for example health care, environmental protection, culture), public deficit, municipal accounts, municipal economy, municipal finances, net financial investments.Local government finances , General government , Central government finances , Public sector
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General government revenue and expenditure, 2006

Variants of the statistics:

The statistics describe government revenue and expenditure. Together with financial assets and liabilities, they give a comprehensive overview of the sector’s finances.

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Upward adjustment of government income in 2006

The revised figures for general government revenue and expenditure for 2005 and 2006 include a new estimate for accrued taxes, this causing an upward adjustment in tax revenues of NOK 11 billion in 2006. For expenditures in both 2005 and 2006 the corrections are minor.

The largest contribution to the upwards adjustments in tax revenues for 2006 comes from current taxes on income and wealth, excluding extraction of petroleum. The new estimates of accrued taxes of imply a rise in tax revenues from this sector by more than NOK 8 billion. Other areas which also contribute to the upwards adjustment are other taxes on production and on imports and members contribution to social welfare. Total tax revenues for general government amount to NOK 1220 billion, and total expenditures amount to NOK 822 billion.

Revenues for general government adjusted downwards

The 2005 figures have been through several revisions and are now presented as final figures. This also means that the corrections are less than in the 2006 figures. Total revenue for general government in 2005 amounts to NOK 1061 billion, a downwards adjustment of NOK 2 billion. Total expenditure amounts to NOK 768 billion.

The adjusted accrued tax revenues for 2005 and 2006 cause a corresponding adjustment in net financial investments for the same period. The net financial investments amount to NOK 294 billion and NOK 398 billion in 2005 and 2006, respectively.

Minor corrections for local government

Minor corrections are prevailing for local governments, especially in 2005. In 2006, net lending was downward adjusted by NOK 0.8 billion. Including the minor corrections, total revenues and expenditure for local governments amount to NOK 241.3 and NOK 240.6 billion, respectively.

For a more thorough review of general government fiscal account figures for 2005 and 2006, the reader is requested to read previous published articles for 2005 and 2006.