Taxpayers are forking out nearly $7 million a year to cover the costs of Prime Minister Anthony Albanese, new research figures reveal.

The $6,865,902 figure, calculated by the Institute of Public Affairs, includes his salary, official residences, international travel and other expenses.

Following a recent pay bump, Albanese’s salary rose from $607,500 to $622,071 this month, more than what US president Donald Trump earns — $US400,000 ($617,000).

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As Prime Minister, he also has access to two official residences — The Lodge in Canberra and Kirribilli House in Sydney — with the upkeep of the fully staffed homes costing $2.5 million.

On top of that, official work expenses totalled $3,754,921 from April 2024 to March this year, according to figures lodged with the Independent Parliamentary Expenses Authority (IPEA).

These cover overseas travel, car use, staff costs, family travel and phone bills.

Just back from a six-day visit to China, Albanese has pushed back against opposition claims the trip was indulgent, defending it as an important step in stabilising diplomatic ties.

It was also revealed last year that the Prime Minister bought a $4.3 million clifftop property on the NSW Central Coast, where his fiancée Jodie Haydon is from.

Amid a housing and cost-of-living crisis, Albanese acknowledged that he earns a good income as PM, but insisted he still understands hardship.

“I understand that I’ve been fortunate,” he said.

“But I also know what it’s like to struggle.

“My mum lived in the one public housing that she was born in for all of her 65 years and I know what it’s like, which is why I want to help all Australians into a home whether it be public homes or private rentals or home ownership.”

Morgan Begg, director of research at the Institute of Public Affairs, told The Daily Telegraph the PM could risk losing touch with his humble beginnings.

“Everyone understands that prime ministers need staff, security, and travel, but Anthony Albanese’s entourage is becoming opulent and extravagant,” he said.

“For an individual who trades on his working-class upbringing, Anthony Albanese sure does love the trappings of high office.”