The Wales lawmakers, officially known as the Welsh parliament, are set to get a three per cent increase in their earnings from next month.

On Tuesday, the board chair, Elizabeth Haywood, disclosed that the pay rise was as a result of the rising costs in the country and is a means to assist members in the challenges they face.

According to reports, the United Kingdom’s inflation rate rose by 3.4 per cent in February, which is the lowest rate since September, 2021.

The pay rise is based on the maximum allowed according to a cap set at the beginning of the current Welsh parliament in 2021.

However, it is the same with the increased earnings of last year, which shows that the backbench Wales lawmakers will earn £72,057 each year.

Additionally, the compensation board in Cardiff Bay, which is not part of the parliament, is raising the pay of MSs’ support personnel by 5.7%.

Also, the rules set by the board revealed that the pay increase is calculated based on average median earnings in Wales.

Meanwhile, ministers and other senior Wales lawmakers receive extra earnings with their salaries, making it that first ministers receive £157,624, senior ministers £112,588 and junior ministers £95,701.

While the opposition leaders salaries will be dependent on the number of members in their group which include, Andrew RT Davies, the leader of the Welsh Conservatives will earn £101,656 based on the increase, while Plaid Cymru leader, will get £97,284. 

“Although the rate of inflation has fallen in recent months, the board recognises the impact of rising costs has had on members’ budgets and the challenges members and staff continue to experience because of the increased cost of living,” Ms Haywood said.

She also stated that “the changes agreed by the board for 2024-25 aim to meet these challenges.”

The board chair added, “The board is committed to ensuring the level of financial support for members is adequate to enable them to perform their members’ duties, as well as ensuring accountability, value for money and transparency with the use of public funds.”

Lastly, at Westminster, MPs are receiving a pay rise of 5.5 per cent, which would be increasing their annual salary to £91,346.