Saturday, April 07, 2007

Million-dollar salaries?

Singaporean Prime Minister Lee Hsien Loong recently recommended an 83% pay increase for all his cabinet ministers, a proposal that would up their current annual pay rate of S$1.2 million (US$784,300) to S$2.2 million. Singapore already pays its senior ministers better than any other Asian country and most Western ones. For instance, Prime Minister Lee's S$1.94 million is currently three times the US$400,000 US President George W Bush takes home in salaryper year. Lee's salary is currently about 1.6 times that of his cabinet ministers.

Lee, said last month that the salaries of Singapore ministers, top public officials and judges had fallen way below benchmark private sector salaries. Lee said that Singapore ministers, who earn about S$1.2 million a year, should be earning S$2.2 million.

What irks Singapore's opposition parties is that the million-dollar salaries will indirectly benefit Lee's ruling People's Action Party (PAP), which currently dominates Parliament by controlling 82 of 84 seats, is in poor taste at a time that many middle- and lower-class Singaporeans face a declining standard of living.

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