HC Deb 01 May 1974 vol 872 c488W
Mr. Arthur Lewis

asked the Lord President of the Council whether he is aware that between January 1972 and December 1973 the Index of Average Earnings rose by 29.7 per cent.; whether he will ascertain the latest figure; and to what extent Members' salaries would have to be increased to adjust them to this national average figure.

Mr. Edward Short

The Index of Average Earnings rose by 25.8 per cent. between January 1972 and February 1974. This figure, which is the latest available, was affected by the three-day working week. A 25.8 per cent. increase of the Members' annual salary of £4,500, fixed in January 1972, would result in a figure of £5,661.

Mr. Marten

asked the Lord President of the Council what is the value in real terms of a Member of Parliament's salary compared with when it was last fixed.

Mr. Edward Short

It is estimated that the purchasing power of a Member of Parliament's salary has fallen by 19 per cent. since January 1972, the date it was raised to its present level. This estimate is based on movement in the General Index of Retail Prices between January 1972 and March 1974, the latest available date.

Forward to