Glossary
capital consumption: Amount of fixed capital used each year. Also referred to as depreciation.
local government: The 6 states and the Northern Territory have established a further level of government. Local governments handle community needs such as waste collection, public recreation facilities and town planning. In the Australian Capital Territory, responsibilities usually overseen by local government are administered by the territory government.
Medicare: National, government-funded scheme that subsidises the cost of personal medical services for all Australians and aims to help them afford medical care. The MBS is the listing of the Medicare services subsidised by the Australian Government. The schedule is part of the wider Medicare Benefits Scheme (Medicare).