Minister of Finance speaks at SA-TIED event
Last Thursday the Minister of Finance, Enoch Godongwana, emphasized the importance of data and evidence-based research in implementing economic policy in South Africa.
The Minister was speaking at an online event co-hosted by Business Day and the SA-TIED programme, a collaborative research and policy-making initiative led by National Treasury, UNU-WIDER, and IFPRI.
‘For policy makers the tax data allows us to evaluate policy design and the long-run effects of social programmes and tax incentives, such as the employment tax incentive, and it also provides insights into how to make changes to these programmes informed by improved quality and a breadth of evidence. Policy choices informed by quality research can make a major difference in moving forward policy implementation,’ said the Minister of Finance.
This event marked the launch of the new report A platform for evidence-based policy formulation: Lessons from SA-TIED, which outlines SA-TIED’s major research contributions to the policy environment in Southern Africa during phase one of the programme.
The Minister was joined by Boipuso Modise, Acting Deputy Director-general of Economic policy at National Treasury, and Kunal Sen, Director of UNU-WIDER.
Kunal Sen closed the event by looking to the future of the SA-TIED programme.
‘SA-TIED phase II will increase its activities around fiscal policy questions and macroeconomic policy modelling with the aim to deliver an evidence base on a range of topics in this area that will help inform policy makers on macroeconomic policy matters. This includes research and analysis on how South Africa can devise macroeconomic policies that lead to sustainable growth but at the same time reduce inequality through fiscal redistribution,’ he said.