Federal election overhaul could deliver up to $93 billion for Australia, report claims

Moving federal elections to fixed dates every four years could unlock a $93 billion boost for Australia, a report released on Monday claims.

Having an election twice every 10 years instead of three times in a decade will save $5 billion in election costs alone, according to the report published by advocacy group 4 Year Terms.

The group also claims longer terms provide better and more effective political decisions and are favoured by the private sector.

Currently, federal elections are required to be held once every three years, but the exact timing is currently decided by the prime minister of the day.

In all states and territories, elections are held on a four-year cycle, and all except Tasmania have fixed terms.

Australia and New Zealand are two of the very few democracies worldwide to have a federal election cycle of three years or less, and 4 Year Terms claims this can cost the taxpayer up to $26 billion in poor or ineffective government decisions and productivity losses.

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“Australia’s short and variable election cycle means we spend nearly one third of our time in a lower productivity environment,” 4 Year Terms Australia founder Marty Gray said.

“Fixed, four-year terms would give businesses and government greater certainty to plan and invest.”

The report also claims moving to fixed four-year terms could have up to $62 billion in indirect benefits to Australia’s economy, as private businesses are less likely to make significant investments during an election year.

The report said these savings would occur over a 20-year period.

A 2025 survey from the Australian Election Study found 61 per cent support for fixed elections, while 42 per cent preferred four- over three-year terms.

Prime Minister Anthony Albanese has previously expressed support for moving to a fixed four-year election cycle, however he claimed in 2025 that the Liberal Party would not back this change.

He also clarified that such a change would only be able to be made if Australians voted in favour of it in a referendum, and has ruled out holding another such vote in the near future, following the 2023 defeat of the Voice to Parliament proposal.

Referendums require a double majority, where a majority of states and more than 50 per cent of voters nationwide required to vote in favour in order for it to pass.

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Only eight of the 45 referendums in Australia have been carried.

However, the Labor Party at its national conference last month committed to “progress options for constitutional reforms including fixed, four-year terms of the House of Representatives and the Senate”.

The Joint Standing Committee on Electoral Matters confirmed it was reviewing the length of parliamentary terms and the possibility to introduce fixed elections.

Its final report in this is due in November.