Keir Starmer is set to become the next UK Prime Minister after Labour's decisive win ended the Tories' 14-year reign. The Prime Minister's annual salary is 172,153 pounds, consisting of 80,807 pounds for the PM role and an additional 91,346 pounds for being an MP. Past Prime Ministers' pay varied significantly, with historic salaries much higher in today's terms. The Public Duty Costs Allowance enables former Prime Ministers to claim up to 115,000 pounds annually for necessary office expenses for life.