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How much is an MP worth?

The body in charge of setting MPs’ salaries and pensions has launched a public consultation on whether MPs are giving the public value for money.

The Independent Parliamentary Standards Authority was set up in the wake of the MP expenses scandal.

IPSA has already introduced a pay freeze for MPs and a 1.85 per cent increase in their pension contributions.

IPSA chair Sir Ian Kennedy says the online consultation will inform a longer term settlement.

He says: “How we remunerate MPs is a statement about the place they have in our society. So, we have to move carefully and thoughtfully.

“We cannot do this on our own, nor should we. Nor can we do it just by listening to political insiders in the Westminster Village. We need to get as many views as possible.”

MPs currently earn £65,738 a year. The consultation asks how much they should be paid, whether it is useful to compare their remuneration to legislators in other countries or in other professions and whether it should relate to previous experience or take account of outside earnings.

MPs currently contribute between 5.9 and 11.9 per cent into their pensions. IPSA says this is more than most public sector workers but that MPs also receive more generous benefits than most. The survey asks whether MPs should be treated in line with the rest of the public sector.


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. Mark Garnier is worth nothing because that amounts to what he did for IFAs.
    Hoban is worth even less.

  2. Michael Fallas 3rd May 2012 at 9:00 pm

    MP’s should have to pass exams like we do as from learning about our laws and acts of parliament, Hansard and the expenses system. Some make financial decisions bigger than many IFA’s will ever do yet they have no accountability at all.

    I wonder why that is !!

  3. I note that there is no reference to the increase in MPs’ ‘fiddle money’ which was slipped out just before the ‘austerity for the rest of us without an off shore account’ budget!
    As a full taxpaying citizen voter, might I suggest that ANY increase for MPs’ is postponed until after Sections 2-4 of the Fraud Act is FULLY deployed against the 200+ MPs in the last Fraudsters’ Parliament who, in one way or another, stole taxpayers’ monies and we have enjoyed a symphony based upon the slamming of cell doors behind those found guilty!

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