Monday, December 24, 2007

MP's Pay

MP's pay is once again raising its ugly head. Tim Worstall, the Devil and others set out good cases why MP's shouldn't be paid or at east should have their pay limited. Whilst sympathetic with these claims, especially the libertarian one set out by the Devil, I think we do need some formula to reward MP's so we at least attract a diversity of talent.

My plan would be to pay them a salary commensurate with their earning prior to entering Parliament. So a university lecturer would be paid whatever university lecturers are paid, complete with pension package and other perks. The only exception I would make is for MP's researchers and those from think tanks or other parliamentary related jobs. Because there is an in built incentive to skew the wages of these roles priory to them entering parliament I would set their salaries to the median (not average) salary of MP's.

3 comments:

Devil's Kitchen said...

Researchers' salaries are generally paid by the MP who hires them: do we abolish MPs' expenses too?

DK

Mark Wadsworth said...

Hmm. So there'd be strong incentives for people from high paying jobs to become MPs and less incentive for lower earners? Assuming that the salary is part of the attraction of the job.

How about 'no salary at all'? or failing that, paying them the national average salary of just under £30,000 or something, so that they have to send their kids to state schools and have to fill in Tax Credit forms and so on?

The Great Simpleton said...

DK/Mark,

I have addressed you isses in an updated post on MP's pay