Civil servants pay cut, but ministers pay rise?

Leading by example indeed.

“Specifically, in 2009, there will be a 19 per cent fall in the annual salary of the President to S$3.14m and the Prime Minister to S$3.04m.” – ChannelNewsAsia

Frankly, even with the 19% fall in annual salary of the above top office holders, it still seems like a mighty excessive package to me. Is it just me or do people feel the same?

i agree with logicalman that even the “reduced” pay is excessive. pls, we should compare apples to apples and look to the global market for comparison.

there is no reason why singapore shld pay so much for these elites. i say we shld pay global-market rates and release these elites from their obligations and let them make their own money in the private sector.

you can’t lead with moral authority if you’re remunerated with commercial pay.

logicalman and pigscanfly,

Yes, even after the cut, the pay is still excessive. Their only justification for their obscene salaries is their own concocted story about how the ministers’ would earn big money in the private sector, something that has been debunked by the experiences of Yeo Cheow Tong and David Lim (who was parachuted into NOL for a short stint).

We can be sure that we’ll be hearing a chorus of praise from PAP MPs and the local media about how our “leaders” have shown leadership by taking pay cuts in sympathy with the workers of Singapore.

any ‘CEO’ get the sack yet? I see some CEO get sacked already.
How much bonus to be given for the fiasco?

it is only reasonable civil servants’ pay is pegged to the status of the economy.

It’s like marking up the profit margin by 200%, then give a 20% discount. Moral standing is cheap.

I would say pay cut is expected.
but i expected more cut. alas, what to do? lets move on?

Lets not quarrel with the lower grade of civil servants.. Lets focus on those who draw more than half a million a year civil servant…

Really sad, I am living in a country where my leaders always quarrel with its citizen over pay….. really sad

Frankly, the 19% cut for top civil servants (presumably incl. ministers and mps) is meaningless and laughable.

In the first place, how much are they actually paid? Definitely not $10k a month, more likely $100k. But from $100k per month to $80k, that is still an obsene amount!!

Secondly, for the billions in investment losses we’ve suffered – ABC learning, Shin Corp, Merrill Lynch, etc. and the latest being Citigroup – the whole bloody elite group should take a pay cut of at least 90% and eat humble pie. And, please, don’t tell me not all of them deserve similar treatment; because when the going was good, ALL OF THEM were generously rewarded.

Not a single one of them wants to take the responsibility and resign over the investment and town council fiascos. Well then, keep your job but take a severe pay cut. Come down to planet earth.

Don’t worry.
Hopefully, Mr Tan Kin Lian will stand for Presidential Election and he can promised to peg his salary to the average of the G8 presidents and donate the rest to charity.

This will show the government what it means to serve with passion (not with money).

hahas..
let see..
rich become richer..

poor become poorer..hahas,..joke..

2 words – BIG DEAL!

Tan KL, Tan KL.. Can he solve all problems? A president is there to do HIS duty and fulfil his responsibilities. He CANNOT bow down to domestic pressure, else our system will be ripped apart and we’re finished.

One of the responsibilites of a president is to safeguard Singapore’s reserves am I right? He holds the second key. But this ruling is not properly defined. When they say second key, does it mean that both keys are needed or is it that the second key is the secondary key while the govt holds the primary one, which is all it’s needed to open the reserves.

Singapore needs a president who CAN encourage culture and pride. After all, the presidency was or is a ceremonial title. We cannot have one who just relies on popularity and interventionist approaches which are highly regarded by the population or electorate but obstructive.

Also, the president has to be someone who can be trusted. I’m not about to say anything about this and Tan KL.

Anything black and white remains. No amount of economic downturn and warrant cuts in the return rate. I’m sure some will understand what I am saying.

Despite the current president being “useless” in a sense, we can’t just replace him with anyone whom we THINK will be the voice of the people.

Anyway, back to topic.

It’s pretty obvious that the government will have to cut their wages or salaries from top bottom and not the other way round. Not doing so will only incite resentment among the people and electorate.

Even thought many of you dislike and show disgust for their high pay, to the P and MM and SM at least, it’s a necessary approach to combat corruption and attract talents.

Not the I agree with them though. I don’t. According to the book “Combating Corruption” or something like that, high pay is not necessary to combat corruption. Neither does it serve as an incentive for political talents.

Just look at those silly pro-natal incentives and see if they’re working. It’s pretty obvious they do not. And yet, YOUR govt is still pursuing a failed policy ever-hoping that it’ll work again. Hahahahahaha~

There are many objectives and goals in this world which cannot and will never be achieved through monetary means. Unfortunately, our current leaders, running on a tide of economic success since the work of the Old Guard’s fail to realise that.

PM Lee can be blamed for this too. His mind is too…. mathematical and statistical and thus very rigid. Ah well~ What to do? He’s the only one so far… and he’s got the backingof his father.

Hahahaha~

Rgds to whoever…

If TKL want to represent the people, I think forming a alternative party is more suitable.

How has the super pay-scale been revised?

While I agree that our leaders are paid the highest in the world,
i still think they are.

I am not happy with USA. Here’s why :

1. when AIG on verge of collapsing, who Bailed it out? USA president. AIG affected the whole world. Tough problem to solve.

2. when Lehman bon bon, world affected. USA president also had to address this issue.

3. when Ford, GM , etc collapsing, who is asked to Bail them out? USA president.

4. when ziggigroup also near to a bon bon. Guess who may again have to foot the bill? USA people? no no leh. But the executive in this case is again the USA presidente.

Looks like so many things in USA affected the whole world. And more to come. In your face!

Now, Obama is the person who can rescue the world. such heavy responsibility. such important job.

How much do you think Obama is worth?

And there you have it, lady und gentersman.

omama mia!

14) panter92 on November 24th, 2008 10.02 pm
…Despite the current president being “useless” in a sense, we can’t just replace him with anyone whom we THINK will be the voice of the people….
————-

hello panter92,

Like it or not, its not up to you, panter92. Its up to the entity called the Electorate.
do you dig, over ?

pinkie69′ner , roger out.

guys, elections are coming. time to “get close to the ground”.

Yea, yea.. When the time comes, you’ll see what I mean. There’s no time for regrets then.

Its TIME!

So are they using their boys to grandstand now?

Now the pigs taking the grandstand. 19%? sap sap suay.

Hey, watch it! This is Singapore and not some “Do-Gooder” Liberal and therefore corrupt Western Society. It’s “UnAsian” to expect our leaders to set an example by cutting their pay to join the likes of …well…the people who pay them! I mean, we need to pay top dollar for talented leadership or else we may get…change. That is totally unacceptable and not in accordance to “Our Values.”

You, the worker on the other hand better not get used to asking for a higher salary because that would cause a rise in inflation and that would be highly selfish of you! Seriously, you need to spend and pay tax and not ask for a penny more because somebody needs to pay for getting top talent at the top.

So, there, just be greatful that the leaders have even condecended to cut their salaries by three cents a month.

Hi for those who r interested.

1.2m + 83% Increase = 2.2m
25% Variable Payment of 2.2m = 550k
19% Max Pay Cut of 2.2m = 418k
2.2m – 550k – 418k = 1.232m

http://www.atimes.com/atimes/Southeast_Asia/ID05Ae01.html

so how would their pay fall below Apr 2007? Anyone care to explain?

http://informationreadbyme.blogspot.com/2008/11/up-to-19-pay-cut-for-top-civil-servants.html

http://singaporemind.blogspot.com/2008/11/ho-ching-takes-pay-cut.html#links

I think our top politcians are still too well paid:

1. PM,SM,MM – $3 million upwards

2. Ministers – $1.5 million (junior)

3. Superscale – $300,000 (entry) upwards

4. Minister of State – $700,000 upwards (junior)

5. MPs – $13,000 (flat rate) – monthly

6. Parliamentay Secretaries: $500,000 upwards.

7. Colonel: $13,000 upwards per month

8. Retired general: $25,000 upwards per month – posted to other stat boards.

The list goes on.

Some years ago a new lady MP made a remark to the effect that the civil service seemed to always needing the help of outsiders to straighten their screw ups. The said MP has since not made headway into higher office perhaps for other reasons

In Singapore if you guys have not already notice – the truth comes out slow and always late for many good reasons – security, sensitivity, etc and of course to buy time. History from time immemorial will confirm the tardiness of the civil service from the resue of the cable car -ship collusion incident when the c in c of that operation is now our good old pm, to the delay in resolving the seat belts for students’ transport and the non action of AVA to the dangerous dog attack dog/man incident when AVA was already alerted beforehand.

Nevertheless you cannot fool the people all the time and so it is paycut albelt overdue on salary pegged to a system based on a moderated but highest in the private sector. So,is the paycut real on an inflated pay structure.

The truth is that those in Government are still struggling and just by this year’s performance so far, are far below par; ministers as their leaders should be faring the worst and the new team passed can easily passed of as amateurs highly paid just to learn when compared to the sacrifices made by the old guards of Lim Kim San, Goh Keng Swee, Rajaratam, Hon Sui Sen, etc who were only paid a fraction of what the new ministers are getting.
When will they ever learn ? It is one screw up after anothers – now it is the town councils’ imprudency and what is next ? Citizens are now very used to hearing such bad news and it is like regular fare now.
Yes the truth will hurt the pap in the coming GE.

I understand some people in civil service haven’t even got their promised pay increment from several years back. Ministers already got 2 and was supposed to get 3rd increment.

Compare cutting back on 3rd increment vs someone who never got pay increment now getting pay cut.

I am grateful to those civil servants who are the last to get pay increment, if they do indeed get, and first to suffer pay cut. These are indeed leaders by example.

It’s too little too late, PAP!

The DECISION to tag ministers’ pay to the top private sector pays is flawed right from the thought. It only encourages policies on profitability at the expense of the people, regardless of its damaging effects on the past, present and future generation. Isn’t profitability used as Key performance index (KPI)???

The very notion that ASTRONOMICAL pay is required to lure people into parliament is as good as corruption made transparent. Any other interpretation is plain self justification.

The crisis in the US is a timely reminder to everyone that complete capitalism will ruin a society in due course. The gulf in income differences is the beginning of the inevitable collapse of capitalism. This is the ultimate price for surrendering our future into the hands of the total capitalist government.

I seriously suggest that the pay be reduced to $10,000 per month for ministers to make an effective difference. If the top civil servants need a high pay – let them be to attract top talent, but not ministers.

These are public servants, serving the people. Pay should not be an incentive. If it is, then raise the pay of our national servicemen – they should not be judged on a different yardstick!

Maybe we need a new President to set the tone for the country. I fancy an intense fight between old school Nathan and new school Obama Tan KL.

Exciting!

unfortunately it is true. Minsiters pay is linked to KPI – of which GDP growth is paramount.

That is why you get Mah Bow Tan asking – do we allow foreign worker to come in and build up the GDP, construction, manufacturing – or disallow the foreigners to come in so as to prevent the Serangoon gardens housing fiasco.

His answer – let them come in – ignore the social costs. Now I hear Boon Lay is a foreign tuft- and you get other social problems.

Even young china men are invading our HDB food centres as cleaners – do you wonder what happened to our local aunties and uncles – loss of jobs!

Paycut is not good enough. They should not be taking any 13-month bonus or any form of bonus in the 1st place.

to serangoon garden fiasco, it’s okay if their pay is linked to the economy. but we will have to insist that it is GDP per capita!

no point using gdp per se. any economy first-year student will tell you that you can pump up the economy (via liberal labour policies etc) without improving the economic well-being of the citizens.

pls, we may be sheep, but we’re not stupid.

Its $13,000 per month being a MP, which logically is a part time job as this people still have their full time jobs. I would say its the best paid part time job in the world.

Once GDP goes down, their salary goes down. GDP does not have social cost as a component. Therefore, given that social cost is not a factor of their salary, is it right to say, people’s voice is hardly important as people’s voice reflects social cost?
It is rational to have a general believe that people’s voice is not important as election hardly reflects the choice of the people. Now, it is also rational to believe that they can do whatever they like to boast GDP even at the cost of the people’s welfare. i.e. creating negative externality Examples are: foreigners cycling from point to point on the pedestrian walk way, moving foreign workers to live in the residential area (there are lots of foreign workers in Jurong and in Boon Lay). It makes Singaporeans uncomfortable especially when there is a/some female member within a family.
So, what is externality? It is the uncompensated impact of one person’s action on the well-being of a bystander. Can I say that GDP (MPs’ salary) can actually grow at the expense of the Singaporeans’ welfare?
Is wages reduction good news or bad news? It is still too early to say. In my opinion, the role of a civil servant is to look after her people and not to look after their pockets by creating an environment which we are living in now. It is so disgusting. Let’s start observing now.
Tiredman

this is a typical take a step backwards,but 2 steps forward strategy. No one will be fooled except the ignorant

Citicorp shares close at less than $5 and our GIC $6.88B preferred convertible share may not get any dividend 7% coupon at all. If Citi dont pay divident to GIC, no common stock holders will recieve any dividends, due to USG intervention. And if GIC convert the shares they will be crazy to do so, they bought $26 a share, that will be a huge huge loss. Also UBS investment is mandatory conversion now traded at sF$11, they bought at more than sf$40 in eraly of the year, they stand to lose even more billions. These jokers are advised by the singaporeans not to buy or increase their bank stakes with our reserves in such a crisis environment, yet they are deaf to our words. Now all the tax payer gets are near worthless shares of banks. Citi shares are now as good as zero, USG full intervention renders stock holders value equals to zero.

All these toxic investments, should have all the ministers and top civil servants getting a huge pay cut, to punish their stupidity. They have proven they are just like ordinary singaporeans in terms of their foresights. They are crap!

our “so called world class” ministers took helicopters up the world’s highest mountain in terms of pay and now take 2 steps down from the peak in a 19% pay adjustment , oops…where are they?

Still highest pay in the world.

Do they really worth so much???? We all know.

Gosh… paying the President $3.14 million a year. How much the post contribute to taxpayers ??? Any sense at all.???

..with such a “drastic” cut..Im quite sure they will cut down on their holidays, eating out, buying expensive toys for their kids, buy properties….etc

Feverguy:

Hi they lost billions and we commoners need to slog like mad daily to make ends meet – just doesn’t reconcile. If those losses can be spread out as benefit to the poor, we can be a happier First world country. Our aged do not have to work so hard during their golden years wiping tables off foodcourts.

In Australia, they have pension and most retiress retire happily and gladly. Their pension funds per month total around $1000 per person. In our country, we have nothing and need to save up from our CPF funds for our own retirement. The govt gives nothing away but can squander billions into useless funds!

Their rationale is that by giving money away to retirees, it will dry up their coffers. But, from what I see, we have accummulated alot of reserve funds here and there but mostly squandered away by fund managers these few years.

A billion dollars (1,000,000,000) for your info can be utilised to fund 100,000 retirees for ten years comfortably providing them a few thousand dollars a year each without counting in FD deposit interest per year.

I don’t mind we lost billions but the people must be taken care of properly. Mind you it is not millions but billions – how many zeros is that? We have one of the poorest First World population and the income gap is huge compared to many developed countries.

Our poorest in the community the Public Assistance (PA) recipients receive only less than $300 a month subject to review! Those who lost their jobs go to CDC and receive not more than $300 – $400 a month depending on their criterion. They only receive about three months of welfare and need to reapply if they want to extend their payment.

We may also be the ones paying the highest S & C rates in the world and they have accummulated 2 billion dollars in their coffers.

We are already the highest payer for our electricity usage subject to change next month as promised by the govt.

We do not have any unemployment welfare benefit compared to many developed countries.

In truth, we are indeed a rich country but the population remains poor. GIC/Temesak may be sitting on at least $5 billion paper losses to date.

That is a sad truth indeed.

The real question is the market value of Obama – the one who is gonna or is depended to save the world.

So important man, every word he utters can shake the world, can make the world share prices go up or go crashing down immediately.

How much to pay this kind of talent?

Is USA democracy good? Are they 1 party state? Don’t their parties challenge each other? Is their parl peaceful ? Do they have petitions and / or protests? you bet. Did it disappeared since it started doing these hundreds of years ago?

Why it survived for hundreds of years and still the most power in the world as of today?

Hi Gilbert,

They (Temasek) buying more Standard Chartered stock rights issues. Why? Because Australian company Babcock is filing bankrupcy, whose loan is stucked with this company? SC. With bad loans rising, bad assests accumulating….wrong time to increase stakes in SC. Anyway, Temasek has already 19% stake in the company why bother to further it to 22%? SC earns big profit from Asia, but half of asia is going to perform worse than last three years. Now is not the time to spend cash to buy banks. Maybe i am wrong.

I agreed with your comments that money can be better spent on retirees than bank stakes. This gahmen has no heart anyway, just numbers, $$$ and GDP are all they cared.

When they say helping the poor, what about middle class? nothing is said.

The best economic stimulus is cutting GST to 3%. That will spur consumer spending in all sectors. Cut it now, before the santa rally to push up consumer sentiments and retail sales.

FG

Hi

I wish to say a few words that are different from the general sentiments expressed here.

I want to acknowledge that the Government has done the right thing to defer the last installment of the pay increase and also to take a salary cut of 19%. I also want to acknowledge that PM Lee has been magnanimous in not taking his salary increase during the past years.

Many people still think that the salaries of our government ministers and president is too high. This is a separate matter. (Incidentally, I share the same view).

I am not so worried about the high salaries of the government ministers. I am more worried that the low income people are not earning enough. I wish to argue for a minimum wage of around $1,200 per month for a full day’s work. That will be a separate matter.

A few people have suggested that I should set an example by taking a small salary if (and this is a big IF) I were elected as president. They suggested that the rest be donated to charity A few of my close friends know my views on this matter. I shall not state it publicly, as it would be unfair to the incumbent president and ministers.

I like to ask netizens to be fair in our comments. Let us recognise and acknowledge this gesture by the government. It is a step in the right direction.

Jinx,

Obama may have given too much hope and expectation. US is flooding the world with so much Dollars, i am afraid we are going to see a swing to weak dollars early next year. This can be good for US exports, but oil and commodities may rise further and only poor demand may reduced that spikes. No one wants a hyperinflation in a recession, thats going to hurt everyone. What most interesting is that tourism will be hit hard, our IRs are going to be going through one big rough patch. Unemployment in China is rising quickly, their GDP will not be double digit next year. Local consumer will not be able to satisfy the IRs income and i am sure the $100 entrance fees will be scrapped. I personnally think LVS will not be able to finish the IR marina project. Very doubtful they can do it.

FG

#40) Gilbert Goh
…..A billion dollars (1,000,000,000) for your info can be utilised to fund 100,000 retirees for ten years comfortably providing them a few thousand dollars a year each without counting in FD deposit interest per year.

I don’t mind we lost billions but the people must be taken care of properly…..

====-====-====-===

I find what your comment very meaningful.

From the voices we hear on this blog, I believe many are not commenting for the sake of disagreeing with them.

I feel that the reason is very plain and simple. The people want basic things only – access to information that affect them or are of public interest. Wanting to know how well the investments have been is caring for the country. Afterall, i believe they must have done such a great job, there is nothing to worry. TC got competitor or not? Despite assumed doing a great job, it is still commonsense that people would still want to know FOR SURE what is going on.

So, I fail to see any harm. Fear is nothing but fear itself.

Mr tan,

I am sure that any example you set as president of Singapore in the future will be shocking and inspirational.

I think paying yourself $1 is no surprise. In the US, company such as Chrylser in the 1979 USG bailout, CEO ask for $1 for salary. Chrysler managed to get out of othe mess. I am sure that your participation in presidential election is not about money but about serving the people. Show to the rulling class that $1 salary is still good enough for you to serve the nation wholeheartedly.

I am truly happy that after JBJ, we have TKL. Thankful!

FG

Jinx,

I shared your view that Town Council should reveal all their investments. Keepin g them in the skeleton closet is not going to improve people ’s confidence in them unless they think we are not importan.

The TC cannot at this present time continued their “my way, you follow only” attitude. This is not acceptable. I pay S&C every month to my TC, i am entitled to know what they do with the money and not when things are not good/smelly then they annouced it in bits and pieces. Wtf?

Thats why more needs to be done to open up this clam shell TC management, if you need eat that flesh in the clam throw them into hot water so they opened up. Give them pressure, dont let up. The media will moved on, MPs will move on, TC will move on and should we move on? NO!

FG

Mr. Tan,
I support your bid for the Presidency. And I agree that this is a right direction. But it has to be a little further down the road. We need ACCOUNTABILITY not gestures. The Time is way Past Gestures. Like our support for your intentions. It’s time to ACT decisively.
The PAP cannot talk about Meritocracy without being made Accountable for thier failures.
Their percentage drop is nothng close to the finance industry where bonuses are Wiped OUT… that can be as high as 50% of their annual package or more. And may of those affected did not even partake in the decision making process. Just as an example : Compare this with the voluntary pay cuts made at Temasek whose investment decisions are ridiculously poor by any standards and yet no heads rolled.
This has to change and I hope if and when you are elected, this will change. No one should be able to claim the past 30 years’ performance as an excuse for a utterly bad performance/judgement this year – this is called a Look back Option. No one in the finance industry has such a privilege, not even CEO’s of the world’s largest banks. Don’t talk to me about a 30 -50 year long term horizon.. I don’t buy that.
I am happy that you are worried about the lower income and suport a minimum wage, but as a President, how can you manage this as it is not in your mandate? That job will be the gate-keeper (the other key) of the reserves and that’s it, besides ceremonial stuff.

The performance of our public “servants” are decided by the subjective evaluation of their reporting officers and not by the people. So if the PM feels that WKS is doing a fine job despite creating a fine Mas since he said he know that guy all these years, WKS still get his fat bonus.

It’s time for the people to rank the performance of these public ’servants.” What TOC can do is set up an online ranking system with up-thumbs and down-thumbs and see how they fared in their performance throughout the whole year. Those who get the biggest number of thumd-downs will get a reduction in their salaries pegged to these scores. Likewise for those with thumbs-up score.

Jeez folks, you all talk as if every civil servant and minister deserved to be hanged for their salary. Golly gosh, what do you want them to do? Flee to the private sector and ruin what’s left of the economy?

pay cut = wayang only

They bought Citi at $24, now is $5 … losses = $10 billion

So pay cut of few K can account for losses of few BILLIONS?

I think the term “pay cut” is a misnomer. Its simply a variable bonus component that cannot be justified to be given due the the poor economy. In any case, after 19% reduction its still 3million+!!!!! my gosh…..

Remember when govt talk about kidney donations, they mention the donor should be compensated adequately but not excessively that would induce them to sell their kidneys, giving too much will result in sale of kidneys that will end up to be not altruistic….

Isnt the minister’s pay EXCESSIVE?
Btw, the CEOs either got a BIG pay cut, or were booted for these credit crisis fiasco, but our HIGHLY paid ministers only get 19% cut? while 900 DBS staff gets retrenched?? 100% pay Cut??? Speaks volumes of how much they are in tune with the ppl.

btw 253SA, why do you talk as if its the Government or HELL…… all we are asking for is accountability, the Government cannot take credit when the economy is doing well, and then just shrug their shoulders and say too bad when economy is not doing well..

This is what happens when you have a monopoly.
A monopoly have pricing power, they can price their products any price they want and the customers who need the products will have to pay for it.

I am amazed how Singaporeans interpret this news as pay cut. I am even more amazed by the audacity of the mainstream media to sell this news as pay cut. Receiving less bonus is not pay cut. Pay cut only happens when there is reduction in the fixed component of the salary on top of no or less bonus. It is not merely an absolute reduction in the annual salary.

It’s tough not to “grandstand” when you are a $3 Million Dollar Man!

As the reason for their humongous pay rise was to match their talents, let’s brace ourselves for a 18%-19% drop of good governance from our government.

It’s a shame that their talents are no longer worth their original salt!

As they will not be paid their ‘worth’, will some decide to quit their ministership and move to greener pastures like being doctor or lawyer again?

It would be a shame if they do. If they go, the ‘golden period’ would be over and our mother, wife, sister, daughter and grand daughter may have to start looking for position as maids in other countries.

Meanwhile, let’s laugh, rant and be merry to cover the sorry state that we are in.

I’m afraid that if we do not laugh and take a satiric view of their knee jerk wayang actions, madness and anger would have consumed all of us. That’ll be bad as it’ll lead us to IMH, heart attack or even drive us to the jaws of white tiger and MRT trains.

“Pay cut” or “not pay cut” may not the issue anymore.
The policy makers has played themselves into a corner and what is clear is that the present bunch of ministers including president are not up to people’s expectation anymore if the insider account that the nation’s reserves is now down to US$180 billion is true; in the beginning of the year, it was said to be around US$ 265 billion.

Window dressing like lower year end payment makes headlines to distract the poor performances. Pegging salaries to private sector pay is meaningless unless all the poor performers are fired like private sector practices.

pay cut??? not keen, just get out of parliament & don’t waste taxpayer money…period

wow…..if its a US$85 billion loss then divided by 4 million Singaporeans = US$21, 250 per person.

imagine if they had only bothered to use the money to help the citizens instead of losing it away so easily. sigh.

if its a US$85 billion loss then divided by 4 million Singaporeans = US$21, 250 per person. – alky (#58)

Incidentally, the poverty line in the USA is earning less than US$21,250 per year for a family of 4. Are Singaporean funds being used to keep 4 million American families above the poverty line?

Pay cut now is EXPECTED by many given the economic climate.

There was a news about them getting PAY HIKE in 24 months time right?

Guess after their salary adjustment, they no longer still the highest salaried employee in the world, in their category of work?

Wow, I hope my boss give me PAY RISE in 2 years time.
oh, i am the employee of my sole proprietorship as well as the owner lah.
pun intended. hee heee..

aiyoyo

financial tsunami coming

and those civil servants still got so good package??

aiyoyo, dont see the logic..

I am totally disappointed by the ways local main stream media play with the news.

ST only highlighted the good part of goverment, but never utter any single word about the wrong doing and mismanagement

sadly, millions of singaporean do not even realize that they have been mislead by the main stream media

aiyoyo,

we pay 80c for newspapers,

still got some news missing?

is it we need pay $1 or more, then can get all news in the newspaper?

aiyoyo