Issue - meetings

This report sets out the Council’s proposed strategy for its service and commercial investments in 2021/22 to be approved by full Council.

The report set out the Council’s proposed strategy for its service and commercial investments in 2021/22 to be approved by full Council.

Proposed by Councillor Whybrow,

Seconded by Councillor Prater;

That a clause be added to the Investment Strategy to state that in accordance with the climate and ecological emergency motion that was passed in Full Council on 24 July 2019 all new investments will be assessed to ensure that they are in line with a shift to zero carbon by 2030.

(Voting figures: 2 for, 5 against, 2 abstentions).

The amendment was therefore LOST.

Proposed by Councillor Monk,

Seconded by Councillor Mrs Hollingsbee; and

RESOLVED:

1.        That report C/20/72 be received and noted.

2.        To recommend to Council that the 2021/22 Investment Strategy, including the Investment Indicators, set out in the appendix to the report be approved.

(Voting figures: 7 for, 1 against, 1 abstentions).

REASONS FOR DECISION:

Cabinet is asked to agree the recommendations because:-

a)    The Council must have regard to both CIPFA’s Prudential Code for Capital Finance in Local Authorities and the Ministry for Housing Communities and Local Government Investment Guidance when carrying out its duties under Part 1 of the Local Government Act 2003.

b)    The Council is required to approve an Investment Strategy for the forthcoming year.