Issue - meetings

Recommendation from Cabinet, for approval.

Cllr Tim Leaver moved, and Cllr Nesil Caliskan seconded, the report.

Cllr Leaver introduced the report, which sought approval of the Ten Year Capital Strategy. The Council’s ten year plan by department was set out in Appendix A of the report. Of the total capital investment planned, the majority was funded by grants (non-borrowing). A new Prudential indicator was proposed in response to new borrowing affordability measures. Members welcomed the comprehensive strategy and noted that the need for review was due to pressures, inflation and high interest rates.

Opposition members noted the proposed reduction in capital investment but considered that would not be enough. They felt there was an inherent risk of asset deterioration arising from reduced capital investment in highways infrastructure, which was concerning.

During the debate, a procedural motion was moved by Cllr Sabri Ozaydin and seconded by Cllr Ergin Erbil under paragraph 13.20 (viii) of the Council’s Procedure Rules to extend the debate for a further 20 minutes which was AGREED.

Council was asked to approve

I. The 2024/25 – 2033/34 Capital Strategy.

II. The delegation to Cabinet approval of projects up to £10m from the Pipeline Programme, provided the programme continues to fit within the affordability metrics.

III. The use of the Prudential indicator “Ratio of Financing Cost to Net Revenue Budget” as the primary indicator for affordability of the Capital Programme with the target set at 10% to 12% for the first five years.

The recommendations were put to the vote and AGREED.