Singapore PM Lawrence Wong's Salary to Increase by Approximately $1.1 Million USD
Summary
Singapore will raise the salaries of Prime Minister Lawrence Wong and other senior officials, pushing Wong’s annual package to about S$3.6 million. The move has sparked criticism amid concerns over jobs, graduate opportunities, and the rising cost of living.
Key Points
- Singapore has decided to increase the salaries of ministers and the prime minister by more than 60 percent.
- Lawrence Wong’s annual package will rise from S$2.2 million to about S$3.6 million, and he says he will donate the extra amount to charity over five years.
- The government says high salaries help attract talent and reduce corruption, while critics call the move insensitive during a cost-of-living squeeze.
- The new ministerial pay system will also link part of earnings to economic indicators such as unemployment, income growth, and GDP growth.
