Singapore PM Lawrence Wong to Receive 64% Pay Rise, Reinforcing Status as World's Highest-Paid Leader
Singapore's ministerial salaries are being adjusted for the first time in 15 years, with Prime Minister Lawrence Wong's annual package rising to S$3.6 million, according to CNBC.
Singapore Prime Minister Lawrence Wong announced that ministerial salaries in the country will be adjusted upward for the first time in 15 years, according to a report by CNBC. Wong's own annual pay package is set to rise to 3.6 million Singapore dollars, the report said.
The increase amounts to roughly a 64% rise from his current compensation, based on the percentage cited in the report. Using that figure, Wong's prior annual package would have been approximately S$2.2 million before the adjustment.
CNBC's report noted that the revised salary reinforces Singapore's prime minister as the world's highest-paid national leader, a position the country has held in previous comparisons of government executive compensation, according to the outlet.
Singapore has historically defended high salaries for its political office-holders as a mechanism to attract top talent into public service and to deter corruption, a rationale the government has used in past salary reviews, according to CNBC.
The adjustment marks the first change to ministerial pay in Singapore in a decade and a half, the report said, though further details on the specific breakdown of the new compensation structure for other ministers were not included in the available excerpt.
CNBC's report placed Wong's revised salary in the context of how other world leaders are compensated, though the source material did not specify comparative figures for other heads of state or government included in that analysis.
Sources
- The world's highest paid leader is set for a 64% pay rise. Here's how others compare — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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