atans1

Property: What a minister’s salary can buy in 1957 and 2010?

In Holidays and Festivals, Political governance, Property on 29/12/2010 at 5:19 am

Or why PAP ministers deserve our compassion in this season of gdwill. Another Christmas macabre tale. Who would think they deserve our compassion? But they do.

David Marshall said he was paid $8000 a month in the 1950s as CM. Taz $96,000. From what I hear* that could buy 3 bungalow properties in a then non-fashionable area in the East, say Frankel or Opera estates. He could have some change leftover.

Today, a minister earning $2m a yr, can’t buy even one bungalow in these areas with his annual salary. He could possibly get a two-storey terrace house for $1.5m. He has to borrow money from the bank to buy a bungalow.

Other macabre Christmas tales

http://atans1.wordpress.com/2010/12/25/freak-election-result-no-worries-mm/
http://atans1.wordpress.com/2010/12/28/a-ghost-city-state-or-why-fts-are-needed/

——–

*too young and can’t find written records. Have to depend on old people’s memories.  You know what can go wrong, I mean if MM can forget that the Malays are the second biggest group ….

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