ICE Council voted on Tuesday for a £7 increase in the annual Members’ subscription fee and an £11 rise in Fellows’ subscriptions for 2011.
But there will be no increases for graduates and technicians.
ICE’s overall subscription income will rise by a below inflation 2.08% next year. For Members this represents an increase of 2.8% on the 2010 subscription of £257 and for Fellows it is 3.38% up on the current £336 subscription.
“This [settlement] takes into account the need to support graduates and technicians in the present financial climate and meets Councils requirement of a below Consumer Price Index increase,” vice president David Hutchison told Council.
The subscription rise is a drop from the overall 2.5% increase which was proposed by the ICE Executive in April but rejected by Council. The Consumer Price Index announced in May is 3.4%.
The ICE is expecting a £500,000 shortfall in its 2010 revenues, which have been addressed by efficiency savings.