Have your say: 'Productivity Pandas' win Alternative Budget Competition; propose fuel tax as RBNZ lever

This week I helped judge the inaugural Alternative Budget Competition at Auckland University's School of Business. The competition was sponsored by the Productive Economy Council and the New Zealand Manufacturers and Exporters Association. It aimed to stimulate debate among the younger generations about New Zealand's fiscal and economic policies. The winner from a team of four teams in the final was the "Productivity Pandas," who were James Ruddell, Nupur Upadhyay and Alexander Kirch. They proposed an increased GST, a 15% Capital Gains Tax, an inheritance tax and an excise fuel tax that the Reserve Bank would use to assist monetary policy and reduce swings in the currency. Here is their budget statement. Teams were required to submit a Budget Policy Statement explaining their policies and a Financial Model to support this statement. The finalists then made a ten minute presentation which was followed by a fifteen minute question and answer session with the judges. The judges included Selwyn Pellett, spokesperson for the Productive Economy Council, John Walley, CEO of the New Zealand Manufacturers and Exporters Association, Brian Gaynor, Executive Director of Milford Asset Management, Lachlan McKenzie, Chairperson of Federated Farmers Dairy, Divya Dhar, Young New Zealander of the Year and myself. I liked the Productivity Pandas for  their fresh thinking, their clear and well organised presentation and their ability to think on their feet during questions and answers. They were judged the best almost unanimously. Here is their winning presentation 'live' on Youtube I welcome your views below. What would your alternative budget look like?