Parliament approves salary hikes for president, speaker and deputy speaker
Parliament on 6 Oct 2026 approved salary adjustments for the president, speaker and deputy speaker, raising the privy purse to S$2,568,200. The House also passed tax and financial services bills, debated data centre regulation and heard a motion on easing constraints for food and beverage businesses
Singapore’s parliament on Tuesday (6 Oct) approved salary and allowance increases for the president, speaker of parliament and deputy speakers. The three motions, tabled by Leader of the House Indranee Rajah, were passed unanimously without debate, giving effect to recommendations from an independent review committee.
The privy purse used to meet the president’s salary will rise from S$1,568,900 to S$2,568,200. The president’s salary is pegged to the reference monthly salary of the prime minister and includes a 13th-month bonus and an annual variable component tied to civil service rates. The speaker, whose post is part-time, will receive half of the MR4 minister reference annual salary, bringing the sum from S$550,000 to S$900,000 a year. The deputy speaker’s annual allowance, set at 15 per cent of the speaker’s part-time salary, will increase from S$82,500 to S$135,000.
The House passed the Finance (Income Taxes) Bill, which enacts tax measures announced earlier this year to help businesses cope with cost pressures from the Middle East conflict and invest in artificial intelligence. The legislation gives effect to a 50 per cent corporate income tax rebate and a S$2,000 cash grant for active companies employing at least one local employee. It also introduces amendments to comply with global minimum tax rules and simplify tax filing. Second Minister for Finance Jeffrey Siow estimated the measures will cost the government around S$1.5 billion.
Parliament also passed changes to the Financial Services and Markets (Amendments) Bill, allowing the Monetary Authority of Singapore to impose total loss-absorbing capacity on seven systemically important banks – DBS, OCBC, UOB, Citibank, Maybank, Standard Chartered and HSBC. Minister of State for Energy, Trade and Industry Alvin Tan said the framework ensures distressed institutions can be resolved without destabilising the financial system. The amendments also align Singapore’s anti-proliferation financing rules with updated international standards.
Debate began on the Digital Infrastructure Bill, which would require all data centre operators with a critical IT load of at least three megawatts to be licensed. Facilities must meet energy-efficiency requirements, including power usage effectiveness standards. Several MPs raised concerns about the climate impact of expanding data centre capacity, questioning whether Singapore has enough low-carbon electricity to support growth. The sitting was adjourned and debate will resume on Wednesday.
The House heard an adjournment motion by Workers’ Party MP Jamus Lim (Sengkang GRC) on saving local food and beverage businesses. He proposed that public agencies adopt tender criteria weighting food quality and innovation over bid prices, and allow F&B operators to hire Malaysians as stall assistants. In response, Senior Minister of State for Energy, Trade and Industry Low Yen Ling said rental controls would distort market pricing and noted that the government has expanded the non-traditional sources occupation list to include more F&B roles since September.
Separately, eight public service officers have been referred to the police as part of a review of property purchases near unannounced MRT stations.
