Cabinet ministers have received a 230 per cent increase in salary up to April 1, 2024 with their pay moving from $6.9 million in 2021 to $22.9 million next year.
As at April 1, 2023 Cabinet ministers will take home an annual salary of $20.2 million.
The Prime Minister’s salary jumps by 214 per cent, with his pay moving from $9.1 million in 2021 to $28.6 million on April 1, 2024. Effective April 1, 2023 the head of government will get $25.3 million annually.
The increases form part of the new rates under the public sector compensation system announced by Finance and the Public Service Minister Dr Nigel Clarke in Parliament Tuesday afternoon.
Clarke told his parliamentary colleagues that the Government has not changed the framework used to calculate pay for the political directorate over the last three decades.
The deputy prime minister’s salary has surged by 221 per cent, moving from a little over $8 million in 2021 to $25.7 million effective April 1, 2024. As at April 1, 2023 the deputy prime minister is being paid $22.7 million per year.
The leader of the opposition has received a similar increase to that of the deputy prime minister.
For the finance minister, his salary has moved up by 232 per cent from $7.4 million in 2021 to $24.6 million as at April 1, 2024. The finance minister is now receiving $21.7 million effective April 1, 2023.