Highest paid world leader to get salary increase of $1 million
Summary
Singapore will raise the salaries of its prime minister and other ministers, with the prime minister’s pay increasing by about S$1.4 million (US$1.1 million). The government says the higher pay will help attract talented leaders, but many people in Singapore have criticized the increase because wages are much lower for most citizens.Key Facts
- Singapore’s prime minister Lawrence Wong will get an annual salary raise from S$2.2 million to S$3.6 million.
- Wong plans to donate the salary increase to charity over five years.
- The raise applies to other ministers too, with base pay increasing from about S$1.1 million to around S$1.2 million, plus potential bonuses based on performance.
- Minister salaries depend partly on meeting targets like unemployment rate, income growth, and GDP growth.
- Singapore claims high minister pay helps prevent corruption and attracts top talent from business and civil service.
- Singaporeans have mixed reactions: some criticize the raise because the median monthly income is about S$5,775 and many worry about job security and living costs.
- The minister pay issue has been politically sensitive for years and contributed to lower votes for the ruling party in 2011.
- Other world leaders’ salaries are much lower: Hong Kong’s chief executive earns about US$719,000, US President Donald Trump earns US$400,000, and the UK Prime Minister earns about US$230,000.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
