Issue - meetings

[All three reports from the Leadership Team were taken together as one item.]

Cllr Cem Kemahli, Lead Member for Finance, Digital, and Efficiency, presented the report highlighting a significant capital programme with a budget of approximately £151.09 million by 31 March 2025 (£80.60 million for the General Fund and £70.49 million for the Housing Revenue Account). He noted that all Council loans are fixed-rate, with 30-year debt rates nearing 6%, a level not seen since the early 1990s. He attributed this to the government’s actions impairing the UK's and the Council’s borrowing capabilities.

Cllr Kemahli expressed gratitude to the officers for their efforts and stated that the Council was in a strong position because the budget had accounted for key variables.

The Leadership Team RESOLVED, for the reasons set out in paragraph 3.1 and elsewhere within the report, that the recommendations at paragraph 2.1 (i-ii) be adopted.

The Leadership Team -

                        i.         Noted the report and

                       ii.         Recommended it to Full Council to note. 

Action by: Executive Director of Housing & Social Investment