Mr Chan also responded to MP suggestions during the debate on political salaries, such as providing clearer targets to ascertain the effectiveness of political leadership.

Mr Chan said Singapore is not trying to match private sector salaries, but cannot pretend that such opportunity costs do not exist.

There is also a cost to not attracting the talent needed to steer Singapore in more complicated times, says former Nominated Member of Parliament Nicholas Fang.

Mr Chan also responded to MP suggestions during the debate on political salaries, such as providing clearer targets to ascertain the effectiveness of political leadership.