At present the annual salary of a MP is £ 60,675 apart from the allowances that the MPs receive for running an office, employing staff, having a house / apartment in London and within his constituency, where he can live and traveling allowance to and from their constituency to the Parliament
Who takes the decision of payment of the MP’s ?
A body called the Review Body on Senior Services (SSRB) advocates the salaries of the MPs. They also decide whether the salaries of the MPs should be increased or not and the amount by which it should be increase d commensurate with the Civil Services The allowances paid to the Members of both the Houses are also decided by the SSRB. However, the House of Commons is the ultimate authority in accepting or rejecting the suggestions of the SSRB.
Supplementary Payments
Some MPs are paid more because of some extra responsibilities that they look into. The Speaker, the Chairmen of Select Committees and the Mps who are the Ministers in the Government receive an extra salary.
Contributory Pension for Mps
The MPs are entitled to a contributory pension towards which, the MPs contribute 10% of their Parliamentary salary.
Allowance to Opposition Parties
The parties that are not in power in the Parliament are also entitled to certain allowances. This is to ensure that even the Opposition and Minority parties have sufficient funds to carry ion with their activities in the Parliament and they are also in a situation to hold up their views in the Parliament. The allowance that the opposition party or the minority party get is determined by the number of votes that they have received in the last General Elections. It also depends upon the number of candidates who won the election from the concerned party. This is known as “Short Money” in the House of Commons and “Cranborne Money” in the House of Lords.
