Before 1990, the PM’s salary had already increased by 170% (1973), 79% (1981) and 200% (1989). But in our system with greed running amok, money was forever in short supply to the elites.
We had ‘leaders’ like Lau Goh and LKY who were able to cook up really incredible justifications to line their own pockets despite already being paid many times higher than their counterparts in other countries. Both insisted that ministerial/public service salaries must be pegged to the highest in the private sector, which was of course … rubbish. Double confirmed rubbish when they have now accepted stagnant wages for 4 years despite yearly salary increases in the private sector.
LKY even went as far as claiming that wages must “commensurate with what men of their ability and integrity are earning for managing a big corporation or successful legal or other professional practice …”. But which PAP minister has ever helmed a big corporation in the private sector?
Fact: None of the ministers in the cabinet has helmed a big non PAP-affiliated corporation. Except for Shanmugam, every single one of them has been dependent on tax dollars, or worked in GLCs, from about 2 to more than 4 decades.
The ministerial pay formula is now a slap in PAP’s face. Last year, PAP MP Edwin Tong raised the question of reviewing ministerial salaries to which DPM Teo was too pai seh and gave a non reply. link
But didn’t Lau Goh say that “If we do not pay Ministers adequately, we will get inadequate Ministers. If you pay peanuts, you will get monkeys for your Ministers”.
Stagnant public sector pay while private sector’s increased = inadequate/peanuts pay for ministers.
Ministers = What?
The best brains in the country now worth so little? Cannot be leh. No inflation? How they survive like that?
If PAP ministers do not resign en masse, wouldn’t that confirm Lau Goh and LKY were talking cock?
Since 2011, the ‘discount’ to top private sector salaries has been getting bigger because salaries of top income earners have gone up by million$. An example would be DBS CEO who saw his pay increased by $2.1 million from $8.08 million to by $10.9 million last year.
Why aren’t ministers quitting and landing themselves $10 million jobs? Aren’t they losing $9 million every year that they remain as ministers?
As CEO of Singapore Inc, PM Lee is the biggest loser considering SMRT CEO commanded the same pay last year while running a constantly breaking down system. Worse, when NOL was sunk by ex paper general CEO Ng Yat Chung, he was earning almost twice PM Lee’s salary.
Perhaps Lau Goh is right about our inadequate ministers? Or else, how to explain our infrastructures breaking down at record pace, building parts falling off, lifts going haywire, rogue MRT trains, national assets now in the hands of foreign investors, military equipment kena seized, major line outage with untraceable cause, etc.
Most Singaporeans are still unaware that before the drastic pay revision, ministers, perm secs, parl secs, mayors, etc, were able to pay themselves a maximum of 36.5 months.of their monthly wages or a maximum of 20.5-month bonuses. (table below)