MPs set for a £7,000 pay rise - and it's back-dated

The new Conservative Cabinet Credit: Dan Kitwood/PA Wire

2015's crop of MPs are set to receive an added bonus on top of their latest election wins - an extra £7,000 on their yearly pay packet.

A final review by the Independent Parliamentary Standards Authority (Ipsa) is expected to confirm a rise from £67,060 to £74,000 later this year.

David Cameron denounced the increase as "simply unacceptable" when it was first proposed in December 2013 as part of a package of MPs' pay reforms.

If it goes through, this pay rise will be back-dated to 8 May, the day after the General election.

An Ipsa spokesman said: "We carried out two public consultation exercises in 2012 and 2013.

"In December 2013 we reached a decision that there should be a package of changes, including pension reform, ending resettlement payments and increasing MPs' pay to £74,000. The overall package will add no extra cost to the taxpayer."