In a feeble attempt to explain his astronomical salaries, dictator Prime Minister Lee Hsien Loong declared in parliament yesterday (Sep 10) that he received about 4 months bonus on average each year in the past 5 years. Based off his S$2.2 million salaries, the amount is about S$770,000.
Compared to Singaporeans who only receive 13th month annual variable wage as “bonus”, Lee Hsien Loong and his ministers are getting effectively get 4 times in monthly salaries or 220 times the median bonus.
Lee Hsien Loong declined to reveal the actual amount he and his S$52 million-a-year cabinet ministers received:
“Political office holders of all grades received an average annual performance bonus of around four months’ salary in the last five years, with the amount given to each individual ranging between three and six months of their pay each year.”
Last year, Lee Hsien Loong and his compatriots received 5.5 months in bonuses with Lee Hsien Loong alone bagging the most from Singaporean taxes.
Earlier in March, Deputy Prime Minister Teo Chee Hean said that ministerial salaries will remain unchanged even when their “formula” – pegging to the country’s richest – would adjust their salaries upward.
Ministerial salaries are determined by the ruling party government, which Lee Hsien Loong complained that without high salaries, they will corrupt.