Wednesday, January 4, 2012

Singapore to cut ministerial salaries after seven-month review

Singapore will cut salaries for its prime minister and other top office holders following a government-appointed panel’s recommendations, reported Bloomberg.
 
Prime Minister Lee Hsien Loong’s salary should fall 36% to $2.2 million while the president’s annual compensation would be reduced 51% to $1.54 million, the Committee to Review Ministerial Salaries said in a statement on its website today. New ministers will make about $1.1 million.
 

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