In his opening speech in Parliament today, Speaker of Parliament Mr Michael Palmer accepted the recommendations made on his salary by the Ministerial Salaries Review Committee.
He also revealed that he has received messages of acceptance regarding the recommendations on their salaries from the two Deputy Speakers of Parliament, Mr Charles Chong and Mr Seah Kian Peng; President Tony Tan and his predecessor SR Nathan; and former Speaker of Parliament Mr Abdullah Tarmugi as well as former Deputy Speakers of Parliament Mr Matthias Yao and Ms Indranee Rajah.
According to the review done by the committee, the Speaker of Parliament's wage will see the largest percentage cut of 53 per cent, to $550,000, while the salary of Singapore's president may be cut by 51 per cent to $1,540,000 (assuming 1 month AVC).
The committee also recommended that the Deputy Speaker's allowance continue to be pegged to 15 per cent of a full-time Speaker. This means the annual allowance of the Deputy Speaker will be $82,500, a 15 per cent drop from the 2010 allowance.