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Prepare for a more radical relook at methods

DR WALTER THESEIRA, SENIOR LECTURER AT SIM UNIVERSITY

"The Budget is mostly parametric reform to what exists and I think that's not a bad thing, because in continuing with the themes of economic restructuring and social inclusion, we're starting from a very strong base, and I think we're going to go on to greater heights.

But at the same time, we should be laying the groundwork over the next couple of Budgets or this term of government, for a more radical relook at some of the ways we do things.

One of the areas that I think we need to put a lot more emphasis on is this issue of social safety nets for the unemployed.

This is something we talked a lot about in the past that we've been reluctant to embrace for maybe ideological reasons, but which could become increasingly relevant as we become a more developed and mature economy.

(Also), we are not tracking the right things in the economy right now... This is not something that the Budget can solve by itself, (and) it requires quite a big rethink of the way we monitor and understand the economy."

HELPING THE UNEMPLOYED

One of the areas that I think we need to put a lot more emphasis on is this issue of social safety nets for the unemployed.

A version of this article appeared in the print edition of The Sunday Times on March 27, 2016, with the headline 'Prepare for a more radical relook at methods'. Print Edition | Subscribe