PRIME Minister Julia Gillard's pay packet is to soar by $90,000 to about $470,000 - making her higher paid than US President Barack Obama and British PM David Cameron.
Liberal turncoat and new Speaker Peter Slipper will pocket at least $315,000 after snaring a $70,000 pay rise as part of a generous pay rise for federal MPs - to be in effect in time for Christmas.
Just days after the Gillard government announced plans to slash billions of dollars in public spending as part of a savage mini-budget, The Daily Telegraph can reveal the base salary for even the most junior parliamentarian will jump from $140,000 to at least $180,000.
The benefits will be even more lucrative for shadow ministers - such as Joe Hockey, Malcolm Turnbull and Chris Pyne - who will be paid a special "loading" for the first time.
But the lifetime Gold Pass will be axed for future MPs as part of an overhaul of entitlements aimed at cleaning up a system open to abuse.
http://www.dailytelegraph.com.au/news/sydney-nsw/politicians-get-a-christmas-cracker-of-a-pay-rise/story-e6freuzi-1226210655757