Yup. Here's a snippet from their Wikipedia page:

Freedman named the band after the former Prime Minister of Australia, Gough Whitlam, although Plunder had sought to call themselves, 'The Three Nice Boys'. According to Freedman "I loved the family names—the Smiths, the Reivers. I thought, the Whitlams, no-one's done that. I'll be able to steal all the goodwill that Australia holds in reserve for Gough Whitlam."

Also, if you didn't see it already, there are actually a lot of really good reasons to suspect US involvement in the event that has come to be known as "The Dismissal". A brief explanation of some of them are in another comment further up the page.