Finance minister Tito Mboweni plans to stick with only modest tax hikes over the next four years, relying mainly on wage bill cuts that have yet to be negotiated with labour in his effort to stabilise SA's soaring public debt burden and prevent a sovereign debt crisis.

The medium-term budget he tabled on Wednesday set out a less ambitious five- year timeframe to stabilise the debt at 95% than the June supplementary budget's plan to stabilise it at 87% in three years...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now