Cutting politicians’ salary is in vogue these days. The most recent leader to take a snip is President Hollande, who just awarded himself a 23 per cent pay cut; though other leaders have gone further. The Prime Ministers of Japan and Singapore have taken 27.5 and 28.4 per cent drops, respectively, while the UK’s David Cameron swallowed a 26.8 per cent plunge on entering 10 Downing St (albeit largely due to a decision of his predecessor). But does slashing leadership pay reall