TARGET30 is a campaign to reduce government spending from its current level of 35% of Gross Domestic Product (GDP) down to 30% within the next 10 years.
Why does Australia need TARGET30?
Having a smaller government will increase economic growth in Australia and strengthen social and family bonds, leading to better communities and better outcomes for all Australians. Without TARGET30, by 2050 government could be clawing more than 50% of the value of all goods and services produced in the economy.
What does TARGET30 involve?
TARGET30 is a campaign promoting the benefits of small government, supported by a series of research papers and companion activities, including public events. TARGET30 provides concrete plans and policy suggestions for reducing the size of government in key areas including welfare, education and health care.
The campaign focuses on ensuring that the crucial services Australians need are delivered efficiently and effectively by all levels of government while curbing the uncontrolled growth of inefficient spending.
15 October 2019 | PP24
Treasury modelling of the government’s tax changes make the strange assumption of no behavioural change, leading them to ignore economic efficiency and overestimate the revenue implications. Proper modelling provides crucial further information: The Low-Middle Income Tax Offset (LMITO) does nothing to improve economic efficiency and…
24 September 2019 | PP23
In the 1980s and 90s, Australian governments agreed to an ambitious program of micro-economic reforms to lift industrial productivity and living standards that had languished in the 1970s and 1980s. Most economic attention on that era has focused on federal government initiatives such as further…
28 May 2019 | PP20
Superannuation is not a good deal for everyone. As a result of house prices increases, it has become much harder to save for a deposit and, as a result, homeownership percentages among younger workers have fallen. Superannuation, particularly future increases in the guarantee rate, is…
04 April 2019 | PP19
The centrepiece of the 2019/20 budget was a proposed doubling of the income tax cuts that were legislated last year. Both the short-run LMITO change and the long-run tax cuts will reduce tax, but the two approaches are fundamentally different. These differences are important, but…
05 September 2018 | PP9
This paper explores the hypothesis that growth of government has become self-sustaining through the emergence of a segment of the population that both enjoys sufficient direct support from government and is large enough that political parties shape policies to curry its favour. The researchers use…