MPs to get above inflation 5.5 per cent pay rise taking salaries to over £90,000

14 March 2024, 13:52 | Updated: 14 March 2024, 14:46

The salaries of MPs are to increase, IPSA has announced
The salaries of MPs are to increase, IPSA has announced. Picture: Getty Images

By Flaminia Luck

The decision by the Independent Parliamentary Standards Authority (IPSA) will see an increase of 5.5% to the current salary of £86,500.

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Your local MP will now earn almost three times the national average salary in the UK.

John O’Connell, chief executive of the TaxPayers' Alliance, has criticised the decision which was announced today.

“Taxpayers will be aghast at this inflation-busting pay rise for politicians.

“While households struggle to stay above water due to frozen thresholds, MPs are set to benefit further from the linking of their salaries to public sector pay.

“Elected officials should show restraint and only accept rises when conditions allow," he said.

READ MORE: UK economy returns to growth after GDP rose 0.2% in January - raising hopes country is on its way out of recession

IPSA says pay increases reflect what it takes to ensure MPs can carry out their parliamentary duties fully and effectively. They added it is in line with the award agreed for senior members of the civil service.

The authority also considers whether the total cost to the taxpayer is affordable and fair.

They've been responsible for deciding pay 2011 and in the last three years we've seen IPSA decide to increase the salary of MPs each April.

Their chairman, Richard Lloyd, said: “IPSA has been responsible for deciding MPs’ pay since 2011. Since then, our aim has been to make fair decisions on pay, both for MPs and the public.

“Serving as an MP should not be reserved to those wealthy enough to fund it themselves.

"We believe our decision recognises the vital role MPs play in our democracy and considers the continued economic challenges facing the country.

"We are committed to supporting a Parliament that reflects our society, where people from all walks of life can decide to become MPs.”

More to follow.

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