Britain's Prime Minister David Cameron has announced on Sunday to freeze ministerial pay until 2020. This decision will help to save about £800,000 a year and £4 million by 2020.

Cabinet ministers in the U.K. currently receive a salary of £134,565. The prime minister's salary is £142,500.

The independent watchdog, the Independent Parliamentary Standards Authority (IPSA), said that salaries of Members of the Parliament should be increased by 9% this year. But the government made it clear that the increase should not be more than 1%.