Skip to comments.Singapore leaders face salary cut
Posted on 11/29/2008 4:08:21 PM PST by BGHater
Singapore is to cut the salaries of Lee Hsien Loong, prime minister, and senior government officials next year by up to 19 per cent, writes John Burton .
The city-state is one of the few countries where the salaries, among the highest in the world, are tied to economic performance.
"Public sector salaries follow the market up and down. The mechanism allows salaries to respond more rapidly to market conditions," said Teo Chee Hean, the minister in charge of the civil service.
Government salaries are pegged to top earners in six professions and Mr Loong's pay is more than six times that of the US president.
(Excerpt) Read more at ft.com ...
No wonder they have one of the freest economies in the world (freer than our own, for example). They’ll defer to pro-growth policies, rather than what most other nations’ politicians would do (i.e. giveaways for votes).
That is always the excuse for raising Congressional salaries. It has been less than successful so far.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.