The world’s highest paid prime minister just got a 60% raise. Who is Lawrence Wong and how much does he earn? | Today’s news
Singapore is set to increase the salaries of its political leaders by more than 60 percent, raising what is already the highest ministerial salaries in the world by another notch, Singapore’s Prime Minister Lawrence Wong told parliament on Tuesday, according to the AFP news agency.
The wealthy city-state justifies high salaries for its political leaders, saying they attract talent and ensure good governance. The Southeast Asian nation, which last adjusted ministerial salaries 15 years ago, regularly ranks among the world’s least corrupt countries.
However, this topic is politically sensitive, the incomes of cabinet members far exceed the incomes of most ordinary citizens.
“Political salaries are a difficult and emotional issue,” Wong said. “The amounts involved are higher than what most citizens earn, so I understand why Singaporeans scrutinize them and why many feel so strongly about it.”
However, Wong argued that the issue is “ultimately whether Singapore will continue to have the quality of political leadership that we need to move our country forward in the coming decades”, adding: “Our starting point is this: good government depends on good leadership.”
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How much does the prime minister earn?
Wong said the revision will see his benchmark annual salary increase from Sg$2.2 million to Sg$3.6 million ( ₹27.05 million crowns).
Even before the Singapore Prime Minister’s salary increase, the salaries of many other leaders, including those in the United States and other G7 countries, were well ahead.
However, Wong announced that he plans to donate the entire raise to “appropriate good causes” during his tenure.
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Who is Lawrence Wong?
Lawrence Wong is the fourth Prime Minister of Singapore and leads the long-ruling People’s Action Party (PAP). Under his leadership, the party dominates Singapore’s parliament and directs its 21-member cabinet.
An economist by training, Wong holds degrees from the University of Wisconsin-Madison, the University of Michigan and Harvard University. Before being elected to Parliament in 2011, he served as a civil servant in several ministries and as principal private secretary to Lee Hsien Loong.
He previously held portfolios in the areas of culture, community and youth, national development and education. He gained a broad position as co-chairman of Singapore’s COVID-19 Pandemic Task Force, later becoming Deputy Prime Minister in 2022 before succeeding to the Prime Minister’s seat.
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Change in salary structure and phase-in
Wong said the salary increase was recommended by an independent committee.
Under the revised framework, the deputy prime minister’s benchmark salary will rise from Sg$1.87 million to Sg$3.06 million, according to AFP. Cabinet ministers receive between Sg$1.80 million and Sg$2.88 million, depending on seniority and the weight of their portfolios.
Existing feature holders will not be immediately moved to the new benchmarks. Instead, they will receive a one-time adjustment of up to 9 percent starting Oct. 15, depending on individual circumstances, including performance, according to the report.
“Any subsequent changes will be based on individual performance and accountability,” Wong said.
