"It is clear that applying the forthcoming official statistic for public sector earnings growth would result in a salary increase for MPs that would be inconsistent with the wider economic data and would not reflect the reality that many constituents are facing this year. Ipsa interim chair Richard Lloyd said the move was to prevent a pay rise "inconsistent" with the damage caused to the economy by the coronavirus pandemic. Richard Lloyd is the current UK Chairman of Resolver. IPSA Chair: Richard Lloyd IPSA Chief Executive: Ian Todd. A recommended pay rise for MPs has been scrapped over concerns it would “not reflect the reality” that the public is facing from the economic fallout of the coronavirus crisis. Prior to this he was chief executive of the world federation of consumer organisations, Consumers International; head of policy at the housing charity, Shelter; and worked for two years in No10 Downing Street as a special adviser to the Prime Minister. He has substantial experience of both organisational strategy and operational delivery in public, private and third sector services. Get in touch with our news team by emailing us at webnews@metro.co.uk . In a letter to IPSA interim chair Richard Lloyd, the MPs say: "To support people’s jobs and livelihoods, the Government has introduced unprecedented measures, totalling £200 billion. We act independently of Parliament and have a statutory duty to … Political reporter "With the public finances in such a dire state, many public sector salaries have rightly been capped - so it's only fair that politicians' pay rises are also postponed. 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The chair of the independent body that sets their salaries, Richard Lloyd, wrote to parliamentarians saying the raise would be “inconsistent” with what voters are experiencing. In the letter to all MPs on Friday, IPSA's interim chair Richard Lloyd announced the body would no longer be using its usual method for deciding next year's salary level. Richard Lloyd joined the FCA Board in April 2019 and is currently Chair of Risk Committee. Richard Lloyd, IPSA’s Interim Chair, said: “IPSA is responsible for setting MPs’ pay and pensions. He is also the Senior Independent Director. Mr Lloyd said Ipsa would take on board suggestions for alternative approaches to adjusting pay in the future. Copyright © 2021 FCA. The chair of the independent body that sets their salaries, Richard Lloyd, wrote to parliamentarians saying the raise would be “inconsistent” with what voters are experiencing. In a letter from Richard Lloyd, the interim chair of the Independent Parliamentary Standards Authority (IPSA), MPs are told that the “unprecedented impact” of the Covid pandemic would mean that any pay rise would be The Independent Parliamentary Standards Authority (Ipsa) on Friday ordered a pay freeze for the next financial year instead of the £3,300 pay hike after coming under pressure from MPs. John O'Connell, chief executive of the TaxPayers' Alliance, said: "This victory for common sense is an early Christmas present for taxpayers. IPSA Board members: Hon. IPSA interim chair Richard Lloyd wrote to MPs: 'The unprecedented impact of the Covid pandemic has had an unexpected, but different, effect on public and private sector earnings. The independent parliamentary body says MPs will now have their salaries frozen due to the "unprecedented impact" of coronavirus. Richard Lloyd, Ipsa's interim chairman, said the body has a statutory duty to review MPs' pay in the first year of each parliament. Richard Lloyd OBE - Interim Chair - The Independent Parliamentary Standards Authority (IPSA) | LinkedIn MPs are currently paid £81,932 per year and have enjoyed a pay rise in each of the last six years. In a letter to the interim chairman of the Independent Parliamentary Standards Authority (Ipsa), Richard Lloyd, the MPs rejected its recommendation for their pay to rise by £3,300. In a letter to the interim chairman of the Independent Parliamentary Standards Authority (Ipsa), Richard Lloyd, the MPs rejected its recommendation for their pay to rise by £3,300. He was awarded an OBE in 2019 for services to the economy and consumer rights. The chair of the independent body that sets their salaries, Richard Lloyd, wrote to parliamentarians saying the raise would be “inconsistent” with what voters are … Richard Lloyd is a non-executive FCA Board member. 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