Starting tomorrow (September 1), Australian federal politicians are set to receive a significant pay increase. As reported by The Guardian, the Independent Remuneration Tribunal has decided to grant politicians a 4% salary hike.
A backbench Member of Parliament can now expect to earn approximately AUD 225,742 per year, up from the previous AUD 217,060.
Prime Minister Anthony Albanese is in line for an even larger salary increase. His annual pay is expected to rise to AUD 587,000, as his salary is 160% higher than that of an average MP.
The tribunal justified the decision by stating that previous pay increases have been "conservative."
Anthony Albanese commented that the decision about the pay increase is beyond his control, and that's how it should be.
The pay hike also applies to public sector workers, who received their increase on July 1. However, federal politicians will see their salaries adjusted starting tomorrow.