MP wages have been given an inflation-busting bump as salaries rise above £90,000.

The increase is considerably larger than the 2.9% pay uplift last year, when the expenses watchdog said it had “considered very carefully” the “extremely difficult” economic backdrop amid the cost-of-living crisis.

It is also higher than the rate of Consumer Prices Index inflation, which the latest Office for National Statistics figures showed stood at 4% in January.

The Independent Parliamentary Standards Authority (Ipsa) said the decision had been taken in line with the award recently agreed for the senior civil service.

Announcing the 2024 pay decision on Thursday, Richard Lloyd, chair of Ipsa, said: “Ipsa has been responsible for deciding MPs’ pay since 2011. Since then, our aim has been to make fair decisions on pay, both for MPs and the public.

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“Serving as an MP should not be reserved to those wealthy enough to fund it themselves. We believe our decision recognises the vital role MPs play in our democracy and considers the continued economic challenges facing the country.

"We are committed to supporting a Parliament that reflects our society, where people from all walks of life can decide to become MPs.”

Ipsa was created in 2009, largely as a response to the MPs’ expenses scandal, in a bid to make payments more transparent and reach independent decisions on salaries.