MP pay rise could hire 200 teachers All federal MPs get a pay rise. So far, only one says that's not right. THE third federal MP salary boost in 16 months will cost taxpayers $50 million over four years. Prime Minister Julia Gillards salary will increase by $11,908 to $507,338, earning her $2709 a week more than she was earning 16 months ago. Ms Gillard, whose leadership will be under intense pressure when parliament resumes next week, is now in a higher salary bracket than US President Barack Obama. Opposition Leader Tony Abbott, who complained about his salary cut after the Coalition lost office in 2007 , will see his pay rise by $8473 to $360,990. Deputy PM Wayne Swans pay will rise by $9389 to $400,016 while Speaker Anna Burke gets an extra $8015 to $341,477. A cabinet ministers pay rises by $7901 to $336,599 while shadow ministers get an extra $5725 to take their pay to $243,912. Scandal-prone backbencher Craig Thomson and former Speaker Peter Slipper are among those being rewarded with the 2.4 per cent rise, taking their base salary from $190,550 to $195,123. The July 1 pay rise will mean federal MPs have seen their base pay increase by $54,220 since March 2012 , although they have lost a series of perks, including around the world study leave trips and gold card entitlements. But the bill for taxpayers is considerable, the latest pay rise meaning the budget will have to find an extra $12.25 million annually to cover the three salary hikes - or around $50 million over the budget forward estimates. That would be enough to employ at least 300 carers to help the Government roll out its national disabiliy care scheme, or an extra 200 teachers to meet its Gonski reforms. It would also pay for an extra 342 nurses on average salaries of $35,000. The pay rise, of a minimum $4580 a year, will take effect from July 1, just months from the election. But at least one federal MP , South Australian anti-pokies Senator Nick Xenophon, says the decision is a bad one. "Given the way the parliament has been operating lately, I am surprised we didnt get a pay decrease," Senator Xenophon told News Limited. The Prime Minister - who receives an electorate allowance of $32,000 in addition to her salary - defended the salaries for MPs, which are set by the Remuneration Tribunal. The news could be even better for those MPs who survive the election, the tribunal saying it will review salaries in December and potentially award another rise before the next annual review. The tribunal said the pay rise, which also flows to public servants, judges and office holders of government agencies was conservative and incremental.