Fool's Day rolls around.

Finance Minister Eugene Cox gave notice Wednesday in the House that today he will move to raise salaries across the board for both the House and the Senate.

At present, Dame Lois Browne-Evans is the highest paid politician in the land, earning $131,338 next year -- $96,742 for her role as Attorney General on top of her MP's salary of $34,596. Her salary jumps by $3,577 over last year.

The Premier's position is now worth $63,428 bringing Jennifer Smith to $98,024 for the year. Ms Smith's salary increases $2,670 over last year and gives her the second highest political reimbursement.

Mr. Cox is the third highest paid politico. His total salary is $83,609.

But Mr. Cox is still a bargain for the taxpayers. Because he does double duty as Finance Minister and Deputy Premier, some $36,311 this year is saved over what would have been spent had another Minister done the job of Deputy.

Similarly, while Dame Lois collects a salary as Attorney General and as an MP, she does not receive a Ministerial salary for her position in Legislative Affairs.

The salary increases are basically cost of living increases, Mr. Cox explained to The Royal Gazette . He said that in 1995 it was decided that politicians' pay should revert to a system where it is automatically increased by the cost of living each year rather than having to continually be considered. For this reason, political pay cheques jumped 2.8 percent across the board this year.

Members of Parliament will now be paid $34,596, an increase of $924. Senators' salaries will jump a little less with a $628 increase to $23,065.

Holding a Ministry brings an additional $34,598 (up an additional $924), which means a Minister who sits in Parliament will earn $69,196 this year, while a Minister who sits in the Senate takes home $57,661 in total.

Opposition politicians fare less well. Leader of the Opposition Pamela Gordon is paid $23,065 above her MP rate for a total of $57,661. But Shadow Ministers take home only their base MP salary.

The Speaker of the House earns $20,182 above the MP base rate, bringing Stanley Lowe (PLP) to $54,778 or $1,474 over last year. The Deputy Speaker earned $10,091 above the base, an increase of $275.

Parliamentary Secretaries who sit in the House earn $8,650 over the base, while Party Whips such as Ottiwell Simmons (PLP) bring in $5,767 for the position.

The President of the Senate earns $11,532 on top of $23,065 Senate base for a total of $46,129. The Senate Vice President received the smallest increase at just $68 more this year to take that position to $2,512 above the base.

The raises will be effective on April 1.

In 1995, when the House approved new salaries and the automatic yearly rise, political salaries had not been changed since 1987. At that time MPs received $24,000 each year and Senators received $16,000.