The duo will be hosting for an extra half an hour a day

Daytime TV veterans Holly Willoughby and Phillip Schofield are set to pocket an extra £300,000 between them as This Morning has been extended by 30 minutes.

This Morning

Following the cancellation of the Jeremy Kyle show, ITV have reshuffled their daytime schedule and This Morning will now air from 10am-12.30pm, rather than the current 10.30am-12.30pm slot.

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The change will come into place in January, and Holly and Phillip will earn an extra £150,000 a year each for their time.

Other changes include Good Morning Britain starting at 6.30am instead of 6am, and Lorraine starting at 9am instead of 8.30am.

Holly and Phil currently earn £600,000 a year for their This Morning hosting duties – after Holly was given a £200,000 pay rise to match Phil’s in 2017.

MORE: Phillip Schofield and Holly Willoughby are set to take a break from This Morning

News of their joint pay rise comes after Phil is thought to have more than doubled his salary, from from £803,000 to £1.73million.

Along with presenting This Morning, Phil also presents Dancing On Ice alongside Holly.

On top of that, he hosts 5 Gold Rings and has a deal with supermarket chain Waitrose.

While Holly is thought to have paid herself and husband, Dan Baldwin, almost £1.7million from her TV firm last year.

Speaking about their previous pay gap, Holly previously said: ‘You know, the biggest feminist I know is Phil.

‘The first person that will be standing up screaming from the rooftops would be him, and so it was never an issue.’

She added: ‘If there was a pay gap, it wasn’t just because I was a woman, that wasn’t what it was. I think it was that Phil had been there for such a long time.’

Well, we can’t wait to watch This Morning for an extra half an hour every day!