13 Dec 07
Singapore politicians will get a pay hike next year with Prime Minister Lee Hsien Loong enjoying a 21 percent rise in his annual salary to S$3.76 million , state radio reported on Thursday.
President S.R. Nathan will receive S$3.87 million, while members of parliament, most of whom hold full-time jobs outside politics, will get an allowance of S$225,000 a year, according to the report on 938LIVE radio.
“In this tight labour market, where private sector salaries have moved up significantly, the civil service needs to follow promptly in order to attract and retain good people,” the report quoted Defence Minister Teo Chee Hean saying.
Teo is also the minister in charge of the civil service.
Singapore politicians, who are the best paid in the world, peg their salaries to those of the country’s highest-paid doctors, lawyers, bankers and other professionals and executives.
(Editing by Neil Chatterjee and Jerry Norton)