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£5 a year sounds about fair.
Remember, it's easier to criticise than create!
Many of the truly talented people are running companies, not countries.
Why would you make a max £74k plus expenses when you could make £300k+ a year plus stock options and you would not have to deal with all of the media aggro- at least not at the same level.
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I could name a dozen or so pharma industry (because I know a bit about this industry) people who are at the VP to CFO level who would be excellent MP's.
But it would be a massive step down for them- like 1/4 of their salaries.
Studio: https://www.voltperoctave.com
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Me: https://www.jamesrichmond.com
Also most MPs will go on to earn far more when they leave parliament, so for some, putting up with only 74k per year is an investment in their future.
Its not always about the money.
The problem with applying the pay cap to them is that they're not actually public employees.
I also think they should be paid more - it sounds wrong, but if you look at it unemotionally and logically then they really should… because as already said it would make it less unattractive as a career for capable people. I don't believe that you always 'have to pay the going rate to get the right people' - in fact I think it can actually attract the *wrong* people, ie you get greedy but second-rate ones - but there does come a point where it takes a certain kind of fool to want to do it for the little they really get - or one with a second source of income, ie not giving the job their full attention.
In the grand scheme of things even the combined wages of 650 MPs is pretty trivial anyway.
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein
Although not all, it's fair to say.
"Take these three items, some WD-40, a vise grip, and a roll of duct tape. Any man worth his salt can fix almost any problem with this stuff alone." - Walt Kowalski
"Only two things are infinite - the universe, and human stupidity. And I'm not sure about the universe." - Albert Einstein