Europe

‘Not the time’ Fury as MP’s pay to hit £84k while normal Brits face cost of living crisis

Martin Lewis discusses the National Insurance increase

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British Members of Parliament are currently paid £81,932 per year, but their salaries could increase by £2,000 to £84,000. This 2.7 percent increase will come into effect on April 1 if approved by the UK expenses regulator. MPs are now under pressure to shelve their pay rise for another year after it has been scheduled for the same day that thousands of UK families will face rocketing household bills.

The Taxpayers’ Alliance has now criticised the potential increase in MPs pay.

The chief executive of the Taxpayer’s Alliance said politicians should be paid in line with the “country’s economic performance”.

British MPs usually receive a yearly pay rise linked to average public sector pay increases, which would this year result in a 2.7 per cent increase.

MPs pay rise last year was suspended due to the Covid-19 pandemic.

Now the Independent Parliamentary Standards Authority, the expenses regulator for parliamentary pay, last night said “a decision on MPs pay for 2022-23 will be taken early in 2022”.

Speaking to The Sun, the Taxpayers’ Alliance said: “Now is not the time for MPs to get a pay rise.”

Chief executive John O’Connell of the Taxpayers’ Alliance added: “Politicians’ pay should be linked to the country’s economic performance to show we’re all in it together.”

The news comes after new data showed that UK household income is plunging amid a current cost of living crisis.

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Tax rises, soaring inflation and high gas prices could leave UK families hundreds of pounds out of pocket.

According to internal government estimates, seen by the Times, inflation could rise to about 7 per cent if ministers fail to cap an increase in energy bills due in April.

And data from the Office of National Statistics, ONS, showed that there is an enormous gulf in wealth between the young and old.

The ONS noted that the wealth of the over 55 age group, “was 25 times higher than those aged 16 to 24 years”.

Backbench MPs have hit out at Rishi Sunak over plans to raise the rate of National Insurance.

Conservative MP Jake Berry has warned his party could lose Red Wall voters if they ignore the current cost of living “tsunami”.

Tory MPs have warned the Government against a £12billion National Insurance increase taking effect in April.

This backlash has sparked a tense standoff between Jacob Rees-Mogg, who is calling for the rise to be scrapped, and Chancellor Rishi Sunak.

Mr Rees Mogg said the National Insurance rise to fund the NHS and social care cannot be justified while families face soaring costs.

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