Mexico's president-elect Andres Manuel Lopez Obrador is leading example his country's austerity drive. He said he would accept less than half the salary his predecessor when he takes office December. This is part an austerity drive to get Mexico's economy back track. Mr Obrador told reporters Sunday that: "What we want is the budget to reach everybody." This means he will take home a salary around $5,700 a month. This is just 40 per cent the salary currently earned incumbent President Enrique Peña Nieto. In addition, the president-elect said no public official would be able to earn more than he will. His supporters greatly welcomed his new austerity measures.
Mr Obrador said he wanted to cut his salary even further to play his part helping the economy. He stopped a 60 per cent cut because he thought a bigger cut would reduce the quality people joining his government. Many are leaving well-paid positions the private sector to take ministerial posts that have a low salary ceiling. However, he said he would stand firm his campaign promise to rein perks given to high-level government officials. He said there would be cutbacks chauffeurs, bodyguards and health insurance for ministers. Other measures he will introduce are to turn the official presidential residence a cultural center and to stop pension payments to former presidents