Toronto/IBNS, April 4 -- Canada has announced a pay hike for all Members of Parliament (MPs) effective Apr 1 helping them make over $200,000 per year.

Additional salaries for special offices like ministers, parliamentary secretaries, the Speaker and the Prime Minister will also increase with PM Justin Trudeaus salary topping $400,000 per year.

The precise number of the increase each year comes from tracking an index of increases from settlements in the private sector, according to the House of Commons.

For this years bump, that figure works out to 4.4 percent, meaning the standard salary for a backbench MP will increase by $8,500.

Trudeau will now earn $406,200, Opposition Leader Pierre Poilievre will take in $299,900 and cabinet mini...