Commentary: To discuss ministerial salary increases, we need to start by being clear about opportunity costs

Commentary: To discuss ministerial salary increases, we need to start by being clear about opportunity costs


Mr Chan’s figures show that it is the freeze, not the discount, that has opened the gap. Spread across the 15 years it took to arrive, the move to the S$1.8 million benchmark works out to about 3.6 per cent a year, below the 4.3 per cent that median wages grew over the same period. 

The adjustment narrows that gap without closing it. Yet, a seven-figure salary is hard to sympathise with under any circumstances.

It is harder still against a backdrop of job and wage uncertainty that has left many feeling less secure in their own jobs than they did a decade or two ago. 




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