MPs’ pay to rise to almost £80,000 a year thanks to inflation-busting increase

MPs’ basic salary will rise to £79,468 from 1 April thanks to an inflation-busting 2.7 per cent pay rise, it has been announced.

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The Independent Parliamentary Standards Authority – which sets the level of MPs' pay – said the move was inline with public sector earnings.

Chairs of select committees will see the additional payment they receive increase at the same rate – meaning a salary top-up of £15,928.

In a statement, IPSA said: "This is in line with our determination on MPs’ pay, published in July 2015, where we committed to adjusting MPs’ pay at the same rate as changes in public sector earnings published by the Office of National Statistics (ONS). This was confirmed in July 2018 following a further review of MPs’ pay.”

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According to the Bank of England, the inflation rate is 1.8 per cent, meaning MPs are receiving a real-terms increase in take-home pay.

Harry Fone, Grassroots Campaign Manager at TaxPayers' Alliance, said: "A lot of taxpayers are going to be annoyed by this announcement. In the private sector, pay rises and bonuses are rewarded based on performance, not for just turning up. IPSA are once again out of touch with the public."