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Aussie MPs given eye-watering $46,500 pay rises

Aussie MPs get a $46,500 pay rise. Source: Getty

Australian politicians have been awarded eye-watering pay rises after a new government tribunal increased their salaries by up to 12 per cent

Victorian Premier Daniel Andrews led the pack with a 12 per cent (or $46,522) pay rise, which will see his salary topple a whopping $441,000 by July next year.

He is now Australia’s best-paid state leader, followed by NSW Premier Gladys Berejiklian’s $407,980 salary.

The changes were implemented by the inaugural Victorian Independent Remuneration Tribunal, which was set up this year to independently review MP salaries and allowances.

The Victorian Opposition Leader, Michael O’Brien also pocketed a 12 per cent (or $37,102) pay rise, taking his salary to $352,000.

The tribunal’s head, Warren McCann, said the tribunal took into account the roles and responsibilities of MPs, what happens in other states, economic conditions and wage prices in Victoria as well as the government’s wages policy.

Following the determination, Victorian MPs will earn an extra 3.5 per cent on their base salary, bringing it to $182,413, which McCann said was “at the lower end of the salary range independently recommended by Mercer”.

“The effect of these decisions is that office holders will receive an increase of between 3.8 per cent and 11.8 per cent to be phased in over two years,” McCann said.

“This determination was complex, but it is important to understand it was also analytical and evidence based.”

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Yahoo Finance’s All Markets Summit is on the 26th of September 2019 at the Shangri-La, Sydney. Source: Supplied