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...

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