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It is currently a rather substantial $3.8 billion of taxpayer money, or 0.34% of GDP. The Rudd government has committed to raising this to 0.5% of GDP or about $8 billion by 2015.
The UN has established a goal of 0.7% of GDP for aid budgets of developed countries. There is an underlying assumption, consistently promoted by the UN, NGOs, and people like Jeffery Sachs that bigger is better.
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