Angela Merkel heckled during speech in German Bundestag

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Angela Merkel’s decision to step down from Europe’s largest economy puts two frontrunners in the race to replace her, with Ms Merkel hopeful that her successor will come from her own party, the Christian Democrats, in the form of Armin Laschet. Also on the ballot for the country’s 20th postwar Government is Olaf Scholz, leader of the centre-left Social Democrats.

The race for the Bundestag is proving dramatic, with Mr Scholz party taking a lead in all recent polls by an average of five percentage points.

Ms Merkel’s party has led Germany for 50 of the last 70 postwar years, but the party is now headed for its worst-ever electoral result unless Mr Laschet can revive his beleaguered campaign.

After a strong start, the Greens and Annalena Baerbock, their first-ever candidate for chancellor, is now in third place.

Still, they appear to be capable of doubling their share of the vote from the 2017 election and could play a kingmaker role in forming the next German Government.

READ MORE: Remoaner outcry torn apart as inflation surges across EU

Whoever is elected leader, it’s almost certain they will preside over a coalition Government, just as Ms Merkel currently is.

The September election could however see Germany elect its first-ever three-party coalition.

But just how much will the incoming leader of Germany make per year?

Chancellor Merkel is among the highest-paid leaders in the world, with her salary coming in at €315,307 per year.

Germany’s leader is the sixth highest-paid world leader – but the salaries of other leaders far exceed this.

The US president is paid $482,958 each year, coming in as the fourth highest-paid world leader.

But the top paid world leader is farther afield in Singapore.

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Lee Hsien Loong, who has been in power since 2004, takes home a remarkable $1,610,000 in US dollars – roughly $2,170,505 in Singapore dollars – or £1,171,718 each year.

The UK Prime Minister Boris Johnson is paid considerably less than other world leaders.

The Prime Minister’s earnings are made up of £79,496 for his role as Prime Minister, and an additional £81,932 for being an MP – £161,428 in total.

The salary paid to the Prime Minister places him in the top 1 percent of earners in the UK.

However, the Prime Minister’s salary is less than a twentieth of the median take-home pay of the Chief Executives of the UK’s top FTSE 100 Companies, which is estimated at £3.61 million per year in 2020.

World leaders that earn more than the Prime Minister include Jacinda Arden, Justin Trudeau, Scott Morrison, and Alexander de Croo.

Most European Government leaders are actually paid more than Mr Johnson – and even the leader of less economically successful countries, such as Alejandro Giammattei, President of Guatemala.

Elsewhere, the President of the European Commission Ursula von der Leyen is paid more than Ms Merkel and Mr Johnson, receiving an annual salary of £294,749.

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