SYMBOL: SMOKES.EXCISE.UP
SHORT DESCRIPTION: Govt to increase excise duties on tobacco in 2012/13
LONG DESCRIPTION: This contract pays $1 if, before 1 January 2013, the Government announces that excise duties on tobacco products will be increased above the rate of inflation at any time during the 2012/13 financial year; otherwise it pays $0.
JUDGING CRITERIA: The contract pays based on the timing of an announcement. An announcement must be in a formal ministerial media statement that is published on www.beehive.govt.nz before 1 January 2013. The media statement must announce - explicitly or implicitly - that excise duties will be increased by more than the rate of inflation from any date in the 2012/13 financial year (which ends on 30 June 2013). The contract will close on such an announcement. It does not matter if the decision to increase excise duties is later revsersed before or after implemenation. All dates and times are New Zealand time.