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Full Economic Costing

From 1 September 2005 Research Councils will be paying 80% of the Full Economic Costs of research in Higher Education Institutions (HEIs).

Dr Kim Howells and Lord Sainsbury set out a summary statement of Government policy in a letter to all HEIs (PDF, 1.4 Mb)  on 6 January 2005.

HM Treasury wrote to OST (DOC, 63 Kb) regarding Government policy on Government Departments generally paying 100% of Full Economic Costs.

A set of Frequently Asked Questions on Full Economic Costing (FEC) (DOC, 42 Kb)  are also available and include:

  • Guidance on the pricing of research projects
  • Guidance for Government Departments and Higher Education Institutions (HEIs) on the pricing of competitive and non-competitive research contracts

Research Councils have also produced a detailed set of Frequently Asked Questions on Dual Support Reform. 

For more information on pricing and Full Economic Costing, including guidance on the Transparent Approach to Costing (TRAC), visit the Joint Costing and Pricing Steering Group website.