Total cost of proposed pay rise for MPs
IPSA holds the information that you request.
IPSA's proposals, published in December 2013, mark the first time that MPs' pay and pensions have been determined independently of Parliament, government and political parties.
Our proposals are for wide ranging reform for all of MPs’ remuneration. As such we have put forward a package of changes which would cut the taxpayer’s contribution to MPs’ pensions, remove resettlement payments to MPs who leave Parliament voluntarily and, even those who are eligible would receive significantly reduced payments – a double statutory redundancy. We are also reducing certain expenses and giving MPs’ a one-off pay rise to £74,000.
Thereafter MPs’ pay would be linked directly to the rest of the population’s earnings.
Our proposal on MPs’ pay is subject to a final statutory review in the first few months of the new Parliament.
The overall package of reform will not cost the taxpayer more.
Taken on its own, the additional cost of the increase in pay over a full year comparison is £4,637,475.18. As noted above, this is offset against changes to expenses and pensions.
The full details of these changes can be found in the report on our website.
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- December 1, 2014
- MPs' PAY AND PENSIONS
- Exemptions Applied: