Anthony Albanese receives a huge pay rise amid cost of living crisis – here’s how much he is getting paid
Anthony Albanese will now take home $607,500 a year as he and other federal politicians receive huge pay increases amid cost-of-living challenges.
The Remuneration Tribunal, an independent body that sets the pay of federal politicians and bureaucrats, has announced a 3.5 percent pay increase that will take effect on July 1.
The pay rise means the Prime Minister will now receive $607,471 a year, up from $586,929.
Opposition Leader Peter Dutton received a $25,000 pay increase and now has a salary of $432,239.
And Prime Minister and Cabinet Secretary Glyn Davis – the highest paid civil servant – will get an extra $34,202, bringing him to $1,011,402 a year.
Anthony Albanese will now take home $607,500 a year as he and other federal politicians receive huge pay increases amid the cost of living crisis
Treasury Secretary Steven Kennedy received a $33,000 raise, bringing his salary to $986,117.
Backbench MPs will now earn $233,643 a year, while Greens leader Adam Bandt will take home $338,782.
In September last year, the tribunal announced a 4 percent increase for all MPs.
It comes after the Fair Work Commission announced the minimum wage would be lifted by 3.75 per cent.
The tribunal said it recognized that the pay increases were “modest”, with an increase of 18.25 percent since 2015.
Compared to the public and private sectors, wage increases since 2015 have totaled 24.4 percent.
The tribunal said their focus was on ‘providing competitive and fair remuneration’ to attract ‘people of calibre’.
“Many of these office holders do not expect or demand that financial compensation for their public sector roles be determined at the private sector level,” the report said.
“Instead, officeholders serve the public interest and the opportunity to influence economic and social policy initiatives.”
Opposition Leader Peter Dutton received a $25,000 pay rise and now has a salary of $432,239