MPs to be handed a £7,600 pay rise

MPs are to be handed a £7,600 pay rise after a watchdog refused to bow to pressure from political leaders to scale back the rise at a time voters are feeling the squeeze.

The Palace of Westminster. Credit: Stefan Rousseau/PA Wire/Press Association Images

The Independent Parliamentary Standards Authority (Ipsa) will unveil its final proposals next week - including boosting MPs salaries to £74,000 from 2015 - 11 per cent higher than they get at present.

It is expected to try to temper criticism by announcing a tougher-than-expected squeeze on MPs' pensions in a bid to cancel out the £4.6 million cost to the public purse.

Read: MPs to be handed a £7,600 pay rise

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PM: MPs' pay rise 'unacceptable'

David Cameron has said he thinks it would be "simply unacceptable" for MPs to get a pay rise "at a time of public sector pay restraint". A proposed 11% rise would take MPs' standard salary to £74,000 by 2015.