According to this 2012 parliamentary speech by PAP MP Alvin Yeo, ministerial salaries are pegged to the median salary of the top 1000 citizen earners minus 40%. Many of our readers suggested that instead of using the top earners and applying a discount, ministers should receive salaries based on bottom income earners and apply a multiple. While it is true that the multiple used may be criticised as being too high, this formula will give our leaders more incentive to close the income gap and improve the salaries of the bottom income earners. This incentive is lost when the formula for ministerial salaries is based on top income earners. This way, the ministers will constantly be aware of the salaries of the poor and will not be as out of touch. People could not argue that they are being elitist and unaware of the situation of the poor as their salaries are pegged to the incomes of the poor.
Posted on: Sat, 11 Oct 2014 01:48:07 +0000