Can ICAEW win this fight?
Our revelation today that the ICAEW’s council is set to recommend a hike in membership fees will surprise few members, least of all Howard Leigh, the former Tory party treasurer and founder of Cavendish Corporate Finance.
It was last summer Leigh kick-started a campaign to almost double subs to somewhere approaching £300.
Leigh is unlikely to get his way: the council will ask members to approve a far more modest increase in the region of 20%. But fees should rise.
Currently ICAEW members pay a comparatively paltry £167 a year. Many will not appreciate the comparison but nurses pay a not too dissimilar £140 a year. Aside from the inevitable handful of exceptions, salaries between the two professions are hardly comparable.
To draw another parallel, members of CIPFA members pay £234 a year. Even journalists pay more – £171 to our trade body every 12 months.
Despite that, the institute has a track record of losing key votes – remember electives anyone? It will have to fight to ensure it wins this one.