While South Africa's rank-and-file members of parliament aren't yet in the top 1% when it comes to salary, they're getting close, making them by far some of the highest-paid members in the country. In terms of monthly income, previous data compiled by Knight Frank showed that the 1% earners in South Africa are those who earn more than $109,000 a year.
But ministers and MPs are undoubtedly the elite, taking home large salaries in addition to tax-free perks and benefits. Like identifying the sources of middle-class income in South Africa, the question of who is in the top 1% depends on who you ask and what data you look at.
This means that many of South Africa's top politicians are now part of the elite 1% of the country's population and form some of the highest paid in a country that suffers from some of the world's worst income inequality. President Cyril Ramaphosa last week announced a 2.5% salary increase for MPs, ministers and deputies. South Africa's cabinet ministers have long been among the country's highest paid, enjoying a host of tax-free perks and benefits.
Corné Mulder, a FF Plus MP and House Whip, said not all politicians are “billionaires”, and that ordinary MPs don't get council housing and other perks, but ministers and their deputies certainly do. “Politicians are seen as corrupt crooks and charlatans. There are bad people in politics, but they tarnish the role of all politicians,” he said.
While Mulder argues that MPs don't have much money left, the fact remains that South African politicians are high earners. Rank-and-file MPs are among the top 3% of top earners in the country overall. Their take-home pay, after deductions, still puts them in the top 6% of top earners, measured by total salary. If rank-and-file MPs aren't in the 1%, they're very close. And the higher up the MP is in the parliamentary hierarchy, the closer they are to being in the top 1%.
| Country | capital | Head of State | Head of Government | GDP per capita (nominal) | GDP (purchasing power parity) | GDP (purchasing power parity) | GDP per capita (purchasing power parity) |
|---|---|---|---|---|---|---|---|
| South Africa | Pretoria | Cyril Ramaphosa | Cyril Ramaphosa | 380.906 | 6.191 | 997.444 | 16.211 |
Have you read?
The best fashion school.
The best university.
Best medical school.
The best international high school.
Country: Countries with the most female billionaires.
Add CEOWORLD Magazine to your Google News Feed.
Follow CEOWORLD Magazine headlines: Google News, LinkedIn, twitterFacebook, etc.
Copyright 2024 CEOWORLD Magazine. All rights reserved. This material (and excerpts) may not be copied, redistributed or posted on any website without the prior written consent of CEOWORLD Magazine. For media inquiries, please contact info@ceoworld.biz.
