Prime Minister Anthony Albanese and Opposition Leader Peter Dutton get a pay rise for weeks in their new jobs
Opposition Leader Peter Dutton, who receives base salary and an 85% charge, will see his annual income before allowances rise to $401,561.
The President and Senate Speaker’s salary will rise to $379,855 before allowances, while Greens leader Adam Bandt will earn $314,737 from July 1. Presidents receive a 75% charge while the leader of a minority party with more than 10 representatives receives 45 per cent charge.
Politicians elected since 2004 do not receive parliamentary pensions upon retirement, but instead receive pension contributions of 15.4%.
Former ministers in the Morrison government who have been demoted to the opposition backbench no longer receive charges on top of the base salary. In government, they received a 72.5% increase, or $157,368 at the new base figure.
The announcement means politicians will get a bigger pay rise than most other workers, although the increase is still not enough to keep pace with inflation.
In the year to March, public sector wages rose 2.2% while private sector wages were 2.4% higher, according to data from the Australian Bureau of Statistics.
However, the Reserve Bank of Australia expects the pace of nominal wage growth to accelerate to 3 percent by the end of the year, thanks to Australia’s tight labor market. Workers should not see an increase in real wages before the end of 2023.
The Fair Work Commission has announced that it will make its decision on the minimum wage tomorrow at 10 a.m.
In making its decisions on politicians’ compensation, the court considers economic conditions, including the Fair Work Commission’s annual salary review, the outlook for the federal budget, and government policy on labor relations in the sector. audience.
“In determining compensation for the wide range of public functions within its jurisdiction, the tribunal’s primary focus is to provide competitive and fair compensation, commensurate with the responsibilities and experience required for the roles, and sufficient to attract and retain people of caliber. “, the court said in a statement.
“Many of these office holders do not expect monetary compensation for their roles in the public sector to be set at the private sector level. Rather, office holders serve the public good and by setting the compensation, the court has traditionally set lower rates than the private sector.
The tribunal is an independent statutory authority created to set the compensation of federal deputies and parliamentary office holders, judges and non-judicial offices of federal courts and tribunals, corporate secretaries in the civil service.