Results 1 to 6 of 6

Thread: Cut in top govt pay

  1. #1

    Default Cut in top govt pay

    Cut in top govt pay

    Pay of Singapore's top civil service officers and ministers will be cut as 'sharp' recession looms. -ST, AFP

    Mon, Jan 19, 2009
    The Straits Times, AFP

    The top government salaries, which are linked to economic performance, will fall 12 per cent to 20 per cent in 2009 and 'may be subject to further adjustments given the volatility of the economy', Defence Minister Teo Chee Hean, who is also in charge of the civil service, said in Parliament on Monday.

    Singapore is scheduled to unveil more measures on Thursday to help companies cope with the deepening global slump, which caused exports to contract in 2008 by the most in seven years. The National Wages Council last week advised employers to freeze or cut pay rather than fire workers.

    Cabinet ministers in recession-hit Singapore will earn a salary of about US$1 million ($1.54 million) each this year - even after a 20 per cent pay cut.

    Ministers can expect to take home about $1.54 million after the cuts, said Teo Chee Hean, the minister in charge of the civil service.

    "As the salaries are linked to economic performance, the 2009 salaries may be subject to further adjustment given the volatility in the economy," Teo said in response to an MP's question.

    Singapore in 2007 introduced a mechanism linking a significant proportion of senior civil servants' salaries to economic performance, which means that if the economy is doing well, pay will increase. The reverse occurs if growth stalls.

    Trade-dependent Singapore became the first Asian economy to fall into recession last year, and Prime Minister Lee Hsien Loong said in remarks published Saturday that the government will further reduce its economic forecast for 2009 because the global situation has worsened.

    There was no discussion in Monday's parliamentary session of Lee's salary but The Straits Times reported in November that he will earn $3.04 million after a 19 per cent cut due to salary components linked to economic growth.

    Rare public fury erupted in 2007 when the government announced salary hikes for politicians and senior officials.

    In response, Lee said the government would pay him the higher salary but he would donate the increase "to suitable good causes" for five years.

    The White House said at the time that US President George W. Bush got paid US$400,000 per year for doing his job.

    Singapore officials have said high salaries are necessary to recruit and retain talented individuals, and to prevent corruption.

    source :- http://news.asiaone.com/print/News/A...19-115705.html

  2. #2
    vince123123
    Guests

    Default Re: Cut in top govt pay

    Ah, yet another piece of "good news" in the waves.

  3. #3
    Senior Member
    Join Date
    Nov 2002
    Location
    谁是你
    Posts
    2,706

    Default Re: Cut in top govt pay

    only in singapore will our good and honorable ministars take a pay cut when the nation suffers. We the ordinary people on the street should pay kowtow to them and call them Fathers

    Quote Originally Posted by Nisa View Post
    Cut in top govt pay

    Pay of Singapore's top civil service officers and ministers will be cut as 'sharp' recession looms. -ST, AFP

    Mon, Jan 19, 2009
    The Straits Times, AFP

    The top government salaries, which are linked to economic performance, will fall 12 per cent to 20 per cent in 2009 and 'may be subject to further adjustments given the volatility of the economy', Defence Minister Teo Chee Hean, who is also in charge of the civil service, said in Parliament on Monday.

    Singapore is scheduled to unveil more measures on Thursday to help companies cope with the deepening global slump, which caused exports to contract in 2008 by the most in seven years. The National Wages Council last week advised employers to freeze or cut pay rather than fire workers.

    Cabinet ministers in recession-hit Singapore will earn a salary of about US$1 million ($1.54 million) each this year - even after a 20 per cent pay cut.

    Ministers can expect to take home about $1.54 million after the cuts, said Teo Chee Hean, the minister in charge of the civil service.

    "As the salaries are linked to economic performance, the 2009 salaries may be subject to further adjustment given the volatility in the economy," Teo said in response to an MP's question.

    Singapore in 2007 introduced a mechanism linking a significant proportion of senior civil servants' salaries to economic performance, which means that if the economy is doing well, pay will increase. The reverse occurs if growth stalls.

    Trade-dependent Singapore became the first Asian economy to fall into recession last year, and Prime Minister Lee Hsien Loong said in remarks published Saturday that the government will further reduce its economic forecast for 2009 because the global situation has worsened.

    There was no discussion in Monday's parliamentary session of Lee's salary but The Straits Times reported in November that he will earn $3.04 million after a 19 per cent cut due to salary components linked to economic growth.

    Rare public fury erupted in 2007 when the government announced salary hikes for politicians and senior officials.

    In response, Lee said the government would pay him the higher salary but he would donate the increase "to suitable good causes" for five years.

    The White House said at the time that US President George W. Bush got paid US$400,000 per year for doing his job.

    Singapore officials have said high salaries are necessary to recruit and retain talented individuals, and to prevent corruption.

    source :- http://news.asiaone.com/print/News/A...19-115705.html

  4. #4

    Default Re: Cut in top govt pay

    What prevent corruption? Don't you mean legalised corruption?

    Now I heard got legalised robbery also: Police can confiscate your camera if you take photos of certain things. I didn't read the article (Straits Times a few days ago) that said this, that's why I said "heard". Anyone read it can confirm if it's true?

  5. #5
    vince123123
    Guests

    Default Re: Cut in top govt pay

    Nope, dont think there was such an article was there? The only thing was an article talking about intending to give the police more rights to stop protests etc.

  6. #6

    Default Re: Cut in top govt pay

    Quote Originally Posted by vince123123 View Post
    Nope, dont think there was such an article was there? The only thing was an article talking about intending to give the police more rights to stop protests etc.
    Probably my mistake and it's just a rumour then. Thanks

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •