I agree with those that have said don't raise the drinking age, just don't. That would be a massive step backwards. We need to address the drinking CULTURE which is a multi-faceted beast indeed.
The drinking age was lowered just after I had turned 20, and I think it was a good thing. I was legal to drink in my THIRD year of university (crazy) and 20 as a purchase age is ridiculously out of kilter with all other legal entitlements (age of consent, voting, military service etc). At the time, those of us that age all commented that there would be an 'adjustment' period where there would likely be a few years of younger people getting drunk, but that it would an issue that we as a society would deal with an educate about, not react to and go back to the old ways! I do however think that an excise may have a part to play, but it is a more complicated problem than you make out.
No one action will fix the drinking issue in NZ. What I admire about TOP's policies is that they go beyond dealing with the symptoms and propose action on the core issue. In that vein, I would suggest a coordinated approach to all the social polices, where you are developing them. For instance, how is the binge drinking issue related to us having the highest youth suicide rate in the OECD? Or the fact that many people are 'working poor' (enter TOP tax reform policy). but I love all your policies, but this one I am against. It needs to be coordinated with other policies and let's look at the evidence for creating social change and evolution in societies...
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