I am gonna be a bit mean

and say that I don't think the prize money should be increased, or a least not increased over, say £100,000.
I think that the atmosphere between the housemates might be changed with everyone wanting to win the money too much. It could make the experience even tougher, I think, not easier.
And I don't think there should be prize money for the runners up either. That would reward the housemates who play the game and vote tactically.
However, they could increase the amount of money that all the housemates get when they are in the house or give them a fixed appearance fee.
That would let them get a share of the profits that Channel 4 and Endemol make from the show.