Highest paid world leader to get salary increase of $1 million

Singapore's government has announced a significant salary increase for its ministers and other office holders, with Prime Minister Lawrence Wong receiving the largest boost. Wong's annual pay package will rise by 1.4 million Singapore dollars ($1.1m; £818,000), bringing his total earnings to S$3.6m ($2.8m) per year, a 60% increase.

This move aims to attract top talent to politics, despite concerns about job security and the high cost of living in the country. Currently, Wong is the highest paid world leader, earning over $1.6m annually. Other top earners include Hong Kong's chief executive John Lee and Switzerland's president Guy Parmelin. Prime Minister Wong acknowledged the scrutiny surrounding ministers' salaries, noting that they are much higher than what most citizens earn.

He stated that while the government cannot match these high incomes, they must not create an overly high financial barrier for capable individuals to pursue a career in politics. The government expects ministers' pay to further increase based on performance, with most earning around S$1.35m by the end of the current term. The topic of high salaries for Singapore's ministers has been a contentious issue, with opposition parties criticizing the ruling People's Action Party for its lack of transparency and the potential for corruption.

However, the government maintains that higher pay reduces the temptation for ministers to accept bribes and is a key factor in maintaining public trust. Many Singaporeans have criticized the pay raise, arguing that it is insensitive to current economic challenges such as retrenchments and rising inflation. Despite this, some support the move, emphasizing the importance of having the best leaders for the country.