Singapore Raises Salaries of Ministers, Including Highest Paid World Leader Lawrence Wong
Singapore is set to raise the annual salaries of its ministers and high-ranking officials, including Prime Minister Lawrence Wong, who currently holds the title of the highest paid political leader globally. The announcement comes just 19 minutes ago.
Wong’s salary will increase by 1.4 million Singapore dollars ($1.1m; £818,000) over his current annual package of S$2.2m (approximately $1.57 million or £1.16 million). Notably, Wong has stated his intention to donate this increment to charity over the next five years.
"Raising the pay of ministers is necessary to attract better talent," Wong explained, addressing the need for such a move. The government has previously argued that high ministerial salaries act as a deterrent against corruption.
However, the decision has sparked criticism in Singapore, where concerns about job security and rising living costs are prominent. Despite the upcoming salary increase, Wong remains the highest-paid political leader globally. His new salary will surpass S$3.6m (around $2.67 million or £1.98 million), a more than 60% increment from his current earnings.
The next in line is Hong Kong’s Chief Executive John Lee, earning approximately $719,000, followed by Swiss President Guy Parmelin with $606,000. In contrast, the US President earns an annual salary of $400,000, while the British Prime Minister takes home $230,000.
Wong acknowledged that ministerial salaries are under intense scrutiny, especially when compared to the median monthly income in Singapore, which stands at 5,775 Singapore dollars. He argued that attracting business leaders and top civil servants to enter politics is challenging, and while the government cannot match private sector earnings, it strives not to make the financial requirements excessively high.
"I believe this will give me and future prime ministers a better chance of persuading capable Singaporeans to step forward," Wong concluded.
Currently, the base pay for ministers is S$1.1m, but with the new scheme, it will rise to approximately S$1.2m. By the end of the current term, most ministers are expected to earn around S$1.35m through performance-based incentives linked to national economic targets.
