UK in Line for 2.8% Annual Pay Rise to £94,000
The annual salaries of members of the British parliament (MPs) could rise to almost 94,000 pounds ($116,490) per year, after the body in charge of their pay recommended a slightly above-inflation increase.
The Independent Parliamentary Standards Authority (IPSA) made the announcement on Monday that it was proposed to increase MPs’ pay by 2.8per cent in April, subject to a consultation.
If approved, the increase would take an MP’s annual salary to 93,904, up from 91,346 pounds. At the start of the last parliament, in 2019, MPs were paid 79,468 pounds.
The IPSA proposal is in line with the government’s recommendations on a wider public sector pay increase for this year and slightly above the current inflation rate of 2.5per cent. The Bank of England has forecast an increase in inflation later this year.
MPs do not determine their own salaries, which have been set by IPSA since the watchdog was established in 2011 in the wake of the expenses scandal.
IPSA chairman Richard Lloyd said that the body aimed to “make fair decisions on pay, both for MPs and the public.”
“Our pay proposal for 2025-26 reflects the experience of the wider working public sector population, and recognised both the vital role of MPs and the current economic climate.”
IPSA would consult on its proposals until mid-March. It is also carrying out a wider review of MPs’ salaries, which it is obliged to do in the first year after an election.#UK in Line for 2.8% Annual Pay Rise to £94,000#
