To recommend to Council for approval the capital investment budget and capital strategy for 2020/21 onwards.

The cabinet member finance and corporate services introduced the report. She stated that a number of new items were proposed to be added to the programme that had been inherited and that the programme would be kept under review. New items included:

·         Rolling out of super hubs;

·         Investment in schools, care home and extra care services;

·         Delivery of employment land and incubation space in the market towns;

·         Match funding toward the heritage action zone in Leominster;

·         Investment in the passenger transport fleet and commercial fleet.

During the four years of the county plan a total of £415m investment was planned, of which around 25% might be funded from prudential borrowing. The council would seek to create new income streams. The proposed programme was prudent and affordable, with headroom for further projects to be brought forward if needed.

Group leaders were invited to express the views of their group. Changes to the Section 106 agreement regime were welcomed as they would release funds into communities. Additional funding for road maintenance was welcomed as the road network was something that everyone used.  

It was agreed that:

the following be recommended to Council:

(a)  the proposed capital programme from 2020/21 attached at appendix 3; and

(b)  the capital strategy document at appendix 4.