"If a business fails, we can start a new one. But if Singapore fails, we are finished."
\n\nMinister for Defence and Coordinating Minister for Public Services Chan Chun Sing wrapped up the debate on political salaries. In his speech, he laid out how he viewed this debate, and addressed what he said were misperceptions about the numbers.
\n\nEchoing his colleagues Mariam Jaafar and Yeo Wan Ling, Chan said the new MR4 benchmark is a reference point, not an entitlement.
\n\nA minister currently on S$1.1 million will receive no more than about S$1.2 million after the one-off adjustment in October, which is capped at 9 per cent and differentiated by individual circumstances including performance and when the person's salary was last adjusted.
\n\nThat works out to an average of 0.6 per cent a year over the past 15 years.
\n\nThere is no intention to move all ministers to S$1.8 million in the near term. Most MR4 ministers are expected to be at S$1.35 million by the end of the term.
\n\nChan said the figures being discussed are not guaranteed sums, with about 65 per cent of the annual salary fixed and 35 per cent variable.
\n\nA minister at the S$1.2 million…
Original source: https://mothership.sg/
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