World's highest paid politician takes 36% pay cut!

January 04, 2012 13:04

Singapore's politicians, the highest paid in the world, will soon see their unpopular multi-million dollar salary packages cut by at least a third, but in spite of that they would remain as top paid globally. To add to the woes of the politicians, the cut would be backdated to May 21, 2011, when the new government took office.

The sharp slashes recommended by government-appointed panel will see the Prime Minister himself taking a 36 per cent cut in salary to still peg his perks at USD 1.69 million (SGD 2.2 million).

But it is still believed to be the highest salary of any elected head of government in the world -- more than four times as much as Barack Obama who gets USD 400,000 a year as President of United States.

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