MPs pay to hit £74k by 2015

Oliver Smith
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IPSA, the Independent Parliamentary Standards Authority, has said it will raise MPs’ salaries by 11 per cent in 2015 to £74,000.

Future increases to MPs’ salaries will also be linked to average earnings, the expensive final salary pension scheme for MPs will be closed and the year’s salary that MPs receive if they lose their seats will be replaced with a £14,850 payment.

The three main party leaders have said they will try to stop the increase.

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