MPs are set to receive a 5.5% pay rise in April, increasing their annual salary to £91,346, announced by the Independent Parliamentary Standards Authority (Ipsa). This aligns with the recent senior civil servants' award, reflecting the 4% Consumer Prices Index inflation rate in January. Ipsa Chair Richard Lloyd stressed the aim of fairness for both MPs and the public.

In addition to their MP salary: Backbench MPs heading cross-party select committees will receive an additional £17,354 starting April 2023. Cabinet ministers will receive £67,505 extra, while the opposition leader, Sir Keir Starmer, gets £49,193 extra.

Severance pay for departing MPs will double, surpassing £20,000 after April's rise. Ipsa, established in 2009 post-MPs' expenses scandal, aims for transparent and independent decisions on salaries.