MPs receive 2.8% pay rise to £93,904

The Independent Parliamentary Standards Authority (Ipsa) has proposed a 2.8% pay rise for MPs, increasing their annual salary from £91,346 to £93,904, effective in April. This recommendation, which aligns with public sector pay trends, comes amidst criticism that it rewards politicians for perceived failures in managing the economy. Ipsa chairman Richard Lloyd emphasized the aim to make fair decisions regarding MP salaries in light of the current economic climate. The proposal, subject to consultation until mid-March, is part of a broader review of MPs' pay that will be completed by July. Critics, including the TaxPayers' Alliance, argue that MPs’ pay should be more closely tied to the country's economic performance, particularly given rising living costs and high taxation. Ipsa has been responsible for determining MPs' salaries since its establishment in 2011 following the expenses scandal.