World

$587,000: How Anthony Albanese’s new salary stacks up against these world leaders’

August 29, 2023

Key Points

Australian MPs are set to receive a pay rise, taking Prime Minister Anthony Albanese’s salary to almost $587,000.
World leaders often receive benefits including allowances, security, and housing on top of their salaries.
Here’s how Australia’s prime minister compares to other world leaders.

Australia’s federal politicians are set to receive their biggest pay rise in a decade, with Prime Minister Anthony Albanese set for an annual salary boost of more than $20,000.

The decision was made by the Remuneration Tribunal, and will .

He lives at the prime minister’s official residence, The Lodge in Canberra, and also has access to the secondary official residence, Kirribilli House in Sydney, both of which are fully staffed.

Australia’s former prime ministers also have access to a slew of benefits under the Members of Parliament (Life Gold Pass) Act of 2002, including travel and office staff, as well as an annual pension.

Anthony Albanese’s expected pension is estimated at around $250,000 a year.

But how does this compare to the rest of the world?

How much does Joe Biden earn?

As president of the United States, Joe Biden earns a salary of $US400,000 ($620,342).

He also has an ‘expense account’ of US$50,000 ($77,647) along with a $US100,000 nontaxable travel account, and US$19,000 ($29,500) for entertainment.

According to the United States Tax Code, the presidential salary is taxable, but the bonuses are not.

The president also lives in the White House and has access to Camp David, a ‘country home’ located in Catoctin Mountain Park in Frederick County, Maryland.

According to the White House website, Camp David has offered every president since Franklin D. Roosevelt (in office from 1933 to 1945) an opportunity for “solitude and tranquillity” as well as a place to work and host foreign leaders.

US President Joe Biden (second from left) with South Korea’s President Yoon Suk-yeol (left), and Japan’s Prime Minister Fumio Kishida, at Camp David in August. Source: AAP, AP / Andrew Harnik

But perhaps the biggest financial benefit afforded to presidents is the pension and benefits they receive under the Former Presidents Act after leaving the top job.

The former presidents’ pensions are adjusted each year, and in 2022 it was sitting at just over $US226,000 ($351,000).

Former presidents also receive benefits such as security, staff, and travel expenses.

What is Rishi Sunak’s salary?

Rishi Sunak – whose personal wealth makes him the United Kingdom’s richest-ever prime minister – is entitled to a salary of £167,391 ($327,908).

He also has use of the prime minister’s apartment at 10 Downing Street, London, along with access to the countryside residence at Chequers in Buckinghamshire.

Former prime ministers also have access to a Public Duty Cost Allowance (PDCA) which sits at a maximum of £115,000 ($225,059) per year.

The PDCA is not a pension but allows former prime ministers to be reimbursed for costs incurred in public duties, such as travel fees to a speaking event where they are appearing in their capacity as ex-prime minister.

They are also entitled to a severance payment of 25 per cent of their annual salary when they stop holding office.

UK Prime Minister Rishi Sunak (left) and Ukraine’s President Volodymyr Zelenskyy at the sprawling countryside residence, Chequers, in May. Source: AAP, EPA / Simon Dawson/10 Downing St/Handout

How much is Narendra Modi paid?

India’s prime minister Narendra Modi is reportedly paid a salary of ₹2 lakhs ($3,754) a month — about A$45,000 a year.

He also receives a number of benefits such as a ‘constituency allowance’, a ‘daily allowance’ for attending parliamentary sessions or House Committee meetings, and compensation for the maintenance of his residence.

India’s Prime Minister Narendra Modi is reportedly paid a salary of ₹2 lakhs ($3,754) per month. Source: AAP

Modi also has access to Air India One Aircraft and the Special Protection Group for personal security.

The Prime Minister’s residence, office, and security are spread across five bungalows. This includes Lok Kalyan Marg, the private residential zone for the prime minister.

How much does Xi Jinping earn?

In 2015, the Chinese Communist Party announced Xi Jinping, along with other top officials, had been given a 62 per cent pay rise.

The pay rise took the president’s monthly salary to 11,385 yuan ($2,423) — about A$30,000 a year.

The move was reportedly part of an effort to reduce corruption.

It’s hard to gauge a full picture of Xi’s financial position as limited details have been publicly released, and the topic remains relatively taboo in China.

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