The recent rise in MPs' pay is cost-neutral to the taxpayer. Through reductions in pensions benefits, and a clamp down on what is claimable on expenses, it is estimated that, to quote IPSA themselves, this rise will “not cost the taxpayer a penny more”.
I understand that it may be galling for many that MPs’ wages are rising by 10% at a time when other public sector workers’ wages are rising by only 1%. However, until recently, MPs’ pay stood at roughly 78% of what other public servants in similar roles were paid. The Independent Parliamentary Standards Authority (IPSA) are instituting this rise primarily to bring MPs' wages into line with other, similar roles in the public sector. It is only fair, therefore, that people doing similar work are paid similar wages.