Cabinet has approved an increase in the salaries for members of the political directorate, as well as the leadership ranks of executive entities, and municipal corporations.

The increases for 3 fiscal years from 2021 to 2024, will cost government 1.7 billion dollars.

The new salary scales were outlined by Finance Minister Dr. Nigel Clarke in a statement to Parliament today.

For the Executive Arm of Government, the new scale will see the Prime Minister Deputy Prime Minister, Finance Minister and other Cabinet Ministers getting a substantial increase, over the leadership of the various ministries.

Effective April 2024 the Prime Minister will receive just over 28 million dollars annually for his salary.

The Opposition Leader’s new salary is at the same level as the Deputy Prime Minister.

Members of Parliament will get 14.2 million dollars as of next year April.