Thursday, November 01, 2007

Sarkozy's pay rise:French will flip if they know...

Hi Friends,

The French public reaction is expectedly negative to Sarkozy's doubling of his annual pay to S$480,000.

I wonder how they would react if they realise that this is but a fraction of what Singapore's political leaders earn.

I do not have our leaders' remuneration package ( maybe some kind soul can send me some data/links), but I remember it was a jaw-dropping, dumb-founding, obscene figure.
Anyway, France is France and Singapore is Singapore.

My memory is fading on this issue, but Singapore's leaders justification for these astronomical pay was one or all of these:

1.Market rate.
2.They are worth every cent of it
3.The total package is but a fraction of Singapore's GDP.
4.Idealism is dead, silly!
5.Cost-benefit analysis: They trade their loss of privacy for money,silly!
6.High pay prevents them from being corrupt ( yes they really said it!)
7.Other country's leaders are hypocritical ( and they are not) , as the former have hidden sources of income, go on lecture tours and write books after they leave office ( and they don't ?)
8.After Singapore's leaders leave the stage (if they leave the stage), they are not expected to use their past political influence to make money for themselves.

For the sake of readers who believe everything they read in our media, let me say that I believe that Singapore's leaders are not corrupt ( in the dictionary sense of the word).

Anyway, majority of Singaporeans accept their reasoning, so who am I to gripe about it, again?

I wrote about this hot topic in the not so recent past here


Dr.Huang Shoou Chyuan

MPs grant Sarkozy huge pay rise (BBC)

The French parliament has decided to more than double President Nicolas Sarkozy's salary, to make it match that of the prime minister.
From 2008 Mr Sarkozy's salary will total 19,000 euros (£13,243; $27,453) gross a month, equivalent to what PM Francois Fillon earns. ...

Jokes, jibes and anger after Sarkozy pay rise

By Jon BoyleParis - President Nicolas Sarkozy came under fire on Wednesday for hiking his own salary by 140 percent while ordinary French people are struggling to cope with soaring prices for bread, milk and cheese.Lawmakers voted late on Tuesday to raise his salary from 8 457 euros to 19 331 euros a month or 240 000 euros a year, putting him on a par with his prime minister, Francois Fillon.

The government said the previous salary system was opaque, as the president drew on different funds to complement his official pay, and the reform would bring some much-needed transparency to the presidential budget ...


Anonymous said...

Anonymous said...

What's your take, Dr Huang? To rise or not to rise?

nofearSingapore said...

anon 9.22: Thanks for the info about the politicians' salaries

anon 12.07 pm: As I mentioned in my linked post, we don't expect politicians to be paupers, but to pay themselves obscene salaries is ... obscene.
If those very able politicians feel that making money is so impt, they should join the marketplace like everyone else.
My guestimate is that only a handful of the politicians can earn anywhere close to what they are getting now. And theirs is practically "risk-free". Perform and you get paid. Don't perform, they get to stick around the PM's Office till tis time to go.