Along with a better office and getting his hands back on the levers of power, Barnaby Joyce will more than double his salary once he’s sworn in as deputy prime minister tomorrow.
The new Nationals leader has been on the backbench since February 2018, where the base salary is $211,250 plus travel and office allowances.
There’s a loading of 105 per cent for the deputy prime minister job, taking his pay up to $433,062.50.
This would put Joyce comfortably within the top 1 per cent of Australia’s earners, based on the latest taxation data reported by senior economics correspondent Shane Wright the other week.
Deposed leader Michael McCormack, on the other hand, will see his pay go the other way.
Earlier today when media asked if he expected to stay in cabinet, he said that was a matter for Joyce.
There will have to be a reshuffle since the Nationals have a set number of frontbench spots (allocated on a quota based on the proportion of seats they hold in the coalition) and Joyce is sure to be wanting to reward his backers, several of whom were also on the backbench.
“I don’t think that the party was actually dissatisfied with my performance,” McCormack said.
“Some others wanted their job back and that drove them for three years. And I appreciate that this is democracy and it’s all about numbers, politics is the brutal arithmetic of numbers.”
For the record, cabinet ministers are paid $364,406.25 and year and regular ministers $332,718.75.