Doing the unthinkable

2008

An extraordinary story from Singapore.

Singapore Prime Minister Lee Hsien Loong's pay will fall 19 percent to S$3.04 million ($2 million) next year as the government slashes civil-servant wages in response to the deepening global financial crisis.

Wages of new ministers will fall 18 percent to S$1.57 million next year, and members of parliament will receive S$190,000, a 16 percent reduction, the government said in a statement late yesterday.

Somehow, we doubt that this will catch on elsewhere, where the public sector appears to be miraculously recession-proof.