LKY introduced money politics into the PAP. From 1955 to 1973, the PM's salary was $3,500 per month. A significant salary revision in 1973 increased the PM's pay rise to $9,500 monthly, and other ministers' salaries from $4,500 to $7,000. In 2016 values, these amounts were equivalent to approximately $27,742 (annual $360,646, including 13th month) and $20,441 (annual $265,733, including 13th month) respectively. Then PM LKY justified the increases by emphasising the need to attract qualified individuals to govt service, stating that ministerial salaries needed to be competitive with private sector earnings. He was greedy to the extreme.
