Holly Willoughby scoops £200,000 pay rise as salary matches This Morning co-star Philip Schofield

Holly Willoughby can breathe a sigh of relief as the TV presenter has reportedly landed a £200,000 ($256,000) pay rise from ITV. The generous boost means the 36-year-old is finally earning the same salary as her This Morning co-star Philip Schofield.

Willoughby and Schofield, 55, have worked together for 11 years, but there was a noticeably large gap in their wages despite doing the same amount of work. According to The Mirror, Schofield was earning a hefty £600,000 per year while his counterpart trailed behind on £400,000.

However, the publication reports that ITV bosses have finally given Willoughby a rise placing the presenters in the same financial bracket at last. It seems the presenting couple have come full circle in their career as the pay rise landed amid negotiations regarding their salaries for the Dancing On Ice reboot, the show which first brought them together on screen in 2006.

A source told the newspaper: "It seemed ridiculous they were going to get paid the same fee for Dancing on Ice but Holly was lagging behind on This Morning. Quite rightly, that has now been rectified and they both earn exactly the same."

It was first reported in March that Dancing On Ice was set to return to screens for the first time since it was axed in 2014 due to poor ratings. Revealing the comeback, a source told The Sun at the time: "Kevin [Lygo, ITV boss] always thought ITV axing Dancing On Ice was a mistake so now the idea of bringing it back is being looked at. It was a smash hit, and even at its worst was still pulling in more than some of the shows currently on telly – particularly in the Sunday night slot."

Willoughby's pay rise was reportedly decided before the salaries of top BBC talent were revealed. The corporation received heavy criticism when it emerged that many female presenters and actresses were paid much less than their male colleagues.

In 2016, Schofield revealed he had signed a brand new two-year deal with ITV but would quit the channel if his so-called TV wife were to also jump ship. At the time, Schofield admitted: "I would quit if Holly would. There's no agenda there, it's just the fact that we work together so well that the show's successful."