Wednesday, June 17, 2009

Ministers Taking Pay Cut!

Wow, the Ministers are taking pay cut! The pay cut is done to show that the Ministers are standing with the people is this current economic hard times.

Here's the news extract from Yahoo News!
Hong Kong's chief executive has said that he and top government ministers will take a pay cut of more than five percent as part of the city's belt-tightening during the economic downturn. Donald Tsang and other senior officials will take a cut of 5.38 percent, the chief executive told reporters. "We do this to show that the team of political appointees is fully prepared to stand shoulder to shoulder with the people of Hong Kong, to ride out the current difficult times," he said. Tsang currently earns 371,855 Hong Kong dollars (47,674 US dollars) a month, the South China Morning Post reported.
Yes I know, they are not the most expensively paid Ministers. Nonetheless it is heartening to see these highly paid political office holders taking pay cut as a signatory gesture to their people.

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