IPSA’s 11% pay increase for MPs includes:
- a salary of £74,000 in 2015, indexed to average earnings in the whole economy thereafter;
- a new pension on a par with those in other parts of the public service, saving the taxpayer millions;
- scrapping out-of-touch “resettlement payments” worth tens of thousands of pound per MP and introducing more modest, modern redundancy packages, available only to those who contest their seat and lose; and
- a tighter regime of business costs and expenses – ending the provision for things such as evening meals.
They are spinning hard by throwing expenses into the mix so overall they can say money is being saved. On pay alone this is a net cost of £500,000 a year….