Valorous Visitation of a by-gone Vexation

Singapore PM to earn almost 2 million dollars -- after pay cut

Agence France-Presse - 11/24/2008 12:05 PM GMT
http://www.msn.com.sg/

Singapore's prime minister is to lose 19 percent of his salary because of the global economic turmoil but will still earn almost two million US dollars a year, a report said Monday.

Prime Minister Lee Hsien Loong, his cabinet, and other senior administrators will see their pay cut by up to 19 percent next year because of salary components linked to the city-state's economic growth, The Straits Times website reported.

Singapore is in recession and the government said the economy could contract next year.
"In view of the clouded economic outlook and the likelihood that salaries will be lower next year, the government has decided to defer the January 2009 salary adjustment," the report quoted the Public Service Commission as saying.

The Commission could not be immediately reached for comment.

With the pay cut, Lee will earn 3.04 million dollars (1.99 million US) a year, while ministers will see an 18 percent drop to 1.57 million dollars, The Straits Times said.

Rare public fury erupted in April 2007 when the government announced salary hikes for politicians and senior officials. In response, Lee said the government would pay him the higher salary but he would "donate" the increase "to suitable good causes" for five years.

The White House said at the time that US President George W. Bush got paid 400,000 dollars per year for doing his job.

Singapore officials have said high salaries are necessary to recruit and retain talented individuals, and to prevent corruption.

Teo Chee Hean, the minister in charge of the civil service, said the government last year introduced the mechanism linking a significant proportion of senior civil servants' salaries to economic performance, a system which is working as planned.

"Public sector salaries follow the market up and down," The Straits Times quoted him as saying. "This mechanism allows salaries to respond more rapidly to market conditions."

Lets see. $3 million a year works out to $250000 a month and an average of $8333 a day. If we go further, our PM earns $374.20 per hour. Where in the world can we find a job that pays by the hundreds every hourly? You know where.

See, thats why I was comtemplating whether or not to join the civil service. You serve in the glory of the nation, its a more or less stable career (unless someone comes along to invade us) and once you reach a certain position, you can start practicing the art of Taichi. Above all, the job pays you good money. Heh. Go brandon go! I am rooting for you. You have become a potential candidate for the position of CP!