Even after pay cuts, Singapore’s juniormost ministers will continue to be better paid than President Bush, Gordon Brown, Nicolas Sarkozy or Angela Merkel. The pay cuts follow the recession in Singapore.
Prime Minister Lee Hsien Loong and President SR Nathan will see their annual salaries cut by 19 percent while ministers and senior permanent secretaries will take an 18 percent pay cut in January next year.The Public Service Division announced:
- President Nathan’s annual salary will be reduced to 3.14 million Singapore dollars ($2.07 million)
- Prime Minister Lee’s to 3.04 million Singapore dollars ($2 million)
- Ministerial grade salary to 1.57 million Singapore dollars ($1.02 million)
- And the salaries of members of parliament – almost all of whom belong to the ruling People’s Action Party – to 190,000 Singapore dollars.
Forbes reported last year:
"Top of the tree by some degree is Singapore Premier Lee Hsien Loong," said Forbes.
However, PM Lee has been donating the raises he has received since April last year, which increased his salary to 3.76 million Singapore dollars, to good causes. And he will continue to do so for five years, said the Public Service Division.
Singapore’s next general election has to be held by February 2012. Obviously, he expects to win the election.
Singapore’s ministers are highly paid to attract top talent to public service.
The average monthly salary in Singapore was 3,773 Singapore dollars last year, according to a Ministry of Manpower report.