Singapore’s highly paid Ministers face massive pay cuts, following a recommendation by a government-appointed committee.
The recommendation suggests the prime minister’s salary be slashed by 36% and the president’s by 51%.
The salary committee was set up after parliamentary elections last year that saw the ruling party secure its lowest overall vote since 1965.
Local media reports the government intends to accept the recommendations.
Even with the 36% pay cut, Prime Minister Lee Hsien Loong will still be one of the highest-paid political leaders in the world with $2.2m Singapore Dollars (USD$1.7m, £1.08m) a year. Compared to US President Barack Obama’s earnings of about USD$400,000.
Singapore President Tony Tan, with a cut of 51% will still earn $1.5m Singapore dollars.
Members of Parliament and political appointee are also included in the salary cuts. Entry-level ministers will get a pay cut of 37%, with an annual salary starting from $1.1m Singapore Dollars.
The recommendations are based on “a salary formula that features fixed and variable pay components which are linked to individual performance and national outcomes”, according to reports released by the committee.
The recommendations will still be debated in parliament this month.