Opinion
Reining in wages is a reasonable way to address our debt problem
Logic and experience tell us that we can't spend or tax our way out of this
08 March 2020 - 00:00
SA's public debt is R3.6-trillion and debt service costs are projected to be at R778bn in the next three years. Low tax revenue, largely due to weak economic growth, has led to an increase in government borrowing. Rising debt-service costs, the wage bill, and bailouts of state-owned entities have also worsened public debt...
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