Financial Reporting Council:Written question - HL4994

Asked on: 23 January 2018
Department for Business, Energy and Industrial Strategy
Financial Reporting Council
Lords
To ask Her Majesty's Government what was the total remuneration paid to the Chief Executive of the Financial Reporting Council for each year since, and including, 2004; and what was (1) the average employment earnings for the UK; (2) the average public sector pay, and (3) the salary of the Prime Minister, for each of those years.
A
Answered by: Lord Henley
Answered on: 01 February 2018

Year

Salary of Chief Executive of the FRC (£)

Average employment earnings for the UK (£)

Average public sector pay (£)

Salary of the Prime Minister (£)

2008

316,000

25,165

26,676

193,885

2009

325,000

25,806

27,692

193,885

2010

329,875

25,882

28,339

142,500

2011

338,122

26,095

28,656

142,500

2012

346,575

26,472

28,930

142,500

2013

355,239

27,011

29,487

142,500

2014

362,344

27,215

29,773

142,500

2015

369,951

27,615

30,328

149,440

2016

378,831

28,195

30,540

150,402

For the purposes of comparison we have listed the base salary of the Chief Executive of the Financial Reporting Council (FRC), average employment earnings across the UK,[1] average public sector pay and the base salary of the Prime Minister, which is made up of Ministerial and Parliamentary salaries combined. [2]

We have been unable to compare with information before 2008; therefore included in the table above are figures only from 2008 until 2016.

[1] Please note that the report consists of median earnings as opposed to mean earnings as a measure for average earnings. Additionally there have been a number of changes to the ASHE methodology over the years, which has resulted in a break in the series in 2011. Figures either side of a break are not directly comparable so caution should be exercised when interpreting long-term trends over time.

[2] These figures have been taken from ‘Appendix 4: Ministerial salaries a comparison of entitlements and amounts received’ of the ‘Member’s pay and expenses and ministerial salaries 2016/17’ 10th November 2016. And are accessible here: http://researchbriefings.files.parliament.uk/documents/CBP-7762/CBP-7762.pdf

Briefing Paper (PDF Document, 790.39 KB)

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