Salary cut for PM too...

Ever heard of politicians taking a salary cut? Yes, but it is not happening in India!

The economic recession has hit politicians in Singapore, who are amongst the highest paid in the world. Their salaries will be cut by up to 19 per cent next year.

The Singapore prime minister, who earns more than the American President has set a precedent by taking a salary cut.

Lee Hsien Loong

Singapore Prime Minister Lee Hsien Loong salary of $2.46 million (Rs 123,079,932) is five times higher than that of the US president George W. Bush. His salary will be slashed to $1.99 million (Rs 99,505,769).

Singapore cut its growth forecast for a fourth time this year and the economy is expected to fall further in 2009.