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.
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…
13 June 2018 | PP5
The main thrust of the Government’s proposed personal income tax changes announced in the 2018-19 Budget is welcome, but they could be improved to better promote economic efficiency. Also, implementation should be brought forward, with the earlier revenue losses offset by tighter expenditure management. Specifically,…
07 February 2018 | OP164
Australia is in a period of economic malaise. GDP per person has been growing slowly ever since the GFC. Australia’s performance is mediocre compared to other developed countries; by contrast, we outperformed before the GFC. Household incomes and wages are also growing at slow rates,…
10 December 2017 | OP161
Australia entered an era of economic reform in the mid-1980s as policymakers resolved to liberalise the country’s economy and strengthen its public finances. Fiscal reform, which is the subject of this paper, was an important part of the process. These reforms included management of the…