It's Time was a successful political campaign run by the Australian Labor Party (ALP) under Gough Whitlam at the 1972 election in Australia. Campaigning on the perceived need for change after 23 years of conservative (Liberal Party of Australia) government, Labor put forward a raft of major policy proposals, accompanied by a television advertising campaign of prominent celebrities singing a jingle entitled "It's Time". It was ultimately successful, as Labor picked up eight seats and won a majority. This was the first time Labor had been in government since it lost the 1949 election to the Liberal Party.

The campaign concentrated heavily on the mistakes made by the prime minister of the day, William McMahon, with a special focus given to the areas of the national economy, health care, city planning and the Vietnam War, as well as Whitlam's ideas for governmental reform.

Whitlam put forward an economic plan as part of his It's Time speech that advocated strong, productive relationships between the public, industry and employees. He contended that only if strong economic growth was maintained, would policies in other areas be feasible. A restoration of genuine full employment along with a projected 6-7% growth of industry were predicted. He argued that his government need not increase taxation to achieve its goals.

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Edward Gough Whitlam, AC, QC (born 11 July 1916), known as Gough Whitlam ( /ˈɡɒf ˈwɪtləm/ GOFF WIT-ləm), served as the 21st Prime Minister of Australia. Whitlam led the Australian Labor Party (ALP) to power at the 1972 election and retained government at the 1974 election, before being dismissed by Governor-General Sir John Kerr at the climax of the 1975 Australian constitutional crisis. Whitlam remains the only Prime Minister to have his commission terminated in that manner.

Whitlam entered Parliament in 1952, as an ALP member of the House of Representatives. In 1960 he was elected deputy leader of the ALP and in 1967, after party leader Arthur Calwell retired, he assumed the leadership and became Leader of the Opposition. After narrowly losing the 1969 election, Whitlam led Labor to victory at the 1972 election after 23 years of Liberal-Country Coalition government.

In his time in office, Whitlam and his government implemented a large number of new programs and policy changes, including the elimination of military conscription and criminal execution, institution of universal health care and fee-free tertiary schooling (university), and the implementation of legal aid programs. He won the 1974 election with a reduced majority. Subsequently, the Opposition, which controlled the Senate, was emboldened by government scandals and a flagging economy to challenge Whitlam. In late 1975, there was a weeks-long deadlock over the passage of appropriation bills, which was resolved by Kerr's dismissal of Whitlam and commissioning of Opposition leader Malcolm Fraser as caretaker Prime Minister. Labor lost the subsequent 1975 election in a landslide.