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891 THURSDAY, 6 NOVEMBER 2008
892
the practical implications of the blue
print. In addition, Mr Wood was advised
to consult with the industries
involved.
(3) In a letter addressed to Mr Wood in
May 2005, I indicated that I would refer
his proposal to our Macroeconomic
Policy Unit for evaluation. I did not,
however, say that I would prepare a
report back on this matter to government.
Having referred the proposal, the
Macroeconomic Policy Unit met with
Mr Wood to discuss the plan. The
evaluation was based on what was
contained in Mr Wood’s written proposal
and concluded that the plan was
still at an early stage of development —
the factories that he was referring to did
not exist and the viability of the idea
had not been tested in the South African
market. Mr Wood wanted to pilot the
plan, which is something that the National
Treasury does not deal with.
(4) The Macroeconomic Policy Unit did
not reject the plan as it was not their
mandate to do so. Their function focuses
on assessing the economic impact
of government programmes. This was
indicated to Mr Wood and he was
advised to test his idea in the market
with other entrepreneurs, engineers and
financial experts that would be better
placed to test and ascertain the viability
of his idea.