Anthony Albanese gets a massive pay rise – and so does every single minister and elected federal politician as Australians struggle with the cost of living
- Federal MPs get biggest pay hike in a decade
- Prime Minister is now on $586,768 a year
Federal politicians are set to receive their largest salary increase in almost ten years of 4 per cent on Thursday, outpacing Australia’s wage price index which, over the past year, went up by 3.6 per cent.
This translates to an increase in the base salary for backbench MPs from $217,000 to $225,680.
Mr Albanese’s pay will rise by $1,880 a month to $48,897, meaning he earns far more every month than someone on Australia’s minimum wage earns in a year, which is $42,278.
The Remuneration Tribunal, which determines the pay and entitlements of public office holders, said the decision followed several ‘conservative’ pay reviews in recent years.
Anthony Albanese’s salary will get a massive boost, rising from $564,200 to $586,768. The Prime Minister is pictured left (with his partner Jodie Haydon) and right
‘When determining remuneration for the broad spectrum of public offices within its jurisdiction,’ the tribunal said in a statement.
‘The tribunal’s primary focus is to provide competitive and equitable remuneration that is appropriate to the responsibilities and experience required of the roles, and that is sufficient to attract and retain people of calibre …
‘In setting remuneration, the tribunal continues to set rates below those of the private sector in recognition of the public service being provided by the officeholders.’
The 4 per cent increase comes as millions of Australians struggle with cost of living increases in everything from food to petrol to rent and mortgages.
More to come