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MPs will get a £2,212 pay rise on 1 April, seeing an MP's basic salary go up to £84,144 a year. The 2.7% rise will come in the same week that millions of workers see their wages hit by a National Insurance increase.
It is reviewed every six months and currently stands at £1,277 per year, but will jump to £1,971 in the spring.
The energy price cap will increase from 1 April for approximately 22 million customers. Those on default tariffs paying by direct debit will see an increase of £693 from £1,277 to £1,971 per year (difference due to rounding). Prepayment customers will see an increase of £708 from £1,309 to £2,017.
Average UK petrol price now 151.25p per litre, while diesel sits at 154.72p per litre
From April 2022, the rates of NICs are due to increase by 1.25 percentage points (see Table 1). This means, for example, that the main rate for employees is due to rise from 12% to 13.25%.
UK inflation has increased to 5.5 per cent, the highest in nearly three decades, amid the tightening cost of living squeeze.