'None was prepared to make the move': PM Wong cites hurdles in attracting private-sector leaders to politics

Attracting experienced private-sector leaders into politics is becoming increasingly difficult amid a range of competing considerations, said Prime Minister Lawrence Wong in Parliament on Tuesday (Sep 8).

PM Wong said that before the last General Election he had spoken to several CEOs and other senior business leaders whom he believed could contribute to the political team. 

"They were earning several times a minister's salary. None said to me directly that pay was the reason they would not join (nor) would I want someone whose decision turned mainly on money," he said. 

While PM Wong highlighted that remuneration remains a factor, he said potential candidates would be giving up careers they had spent years building, taking a substantial reduction in income and contesting an election with no certainty of success. 

"In the end, none of those I approached was prepared to make the move," PM Wong said. 

He also acknowledged that the sacrifices involved in entering politics extend beyond finances.

"Political life places real demands on families...There is scrutiny that spouses and children did not ask for, but nevertheless have to bear with us. No salary adjustment can make up for these things, nor was it ever meant to," he said. 

Instead, he said, the purpose of remuneration was to ensure that the financial hurdle was not made unnecessarily high on top of the other sacrifices involved in political service.

Even if these factors are addressed, PM Wong said, attracting capable Singaporeans into politics would not become easier.

"It's about whether future Prime Ministers will continue to have a realistic chance of persuading capable Singaporeans - from the public service, the rivate sector and other walks of life - to step forward and build a first-rate team for Singapore," said PM Wong. 

MR4 annual salary benchmark to go up from $1.1m to $1.8m

The Government on Tuesday said they will raise benchmark salary for a minister at the MR4 grade — the lowest of four tiers — to $1.8 million. 

The norm annual ministerial wage has remained at $1.1 million since 2011.

PM Wong also said a one-off adjustment of up to nine per cent will be applied to the current wages of political office holders.

Under the updated salary framework, which takes effect on Oct 15, elected Members of Parliaments (MPs) will receive a higher fixed monthly allowance of $18,500, up from $13,750.

The remuneration of the President, Speaker and Deputy Speaker will also be adjusted.

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