To approve the revised capital investment budget for 2023/24 onwards.

Council considered a report by the Cabinet Member Finance and Corporate Services to approve the revised capital investment budget for 2023/24 onwards.

The Cabinet Member Finance and Corporate Services proposed the recommendations in the report and introduced the report.

The Leader seconded the recommendations in the report.

Council debated the report. There was division among the membership. It was the contention of some members that the capital funding proposed towards the southern link road was a valuable contribution towards improving infrastructure in the county. The use of capital funding to support the southern link road was opposed by other sections of the membership who queried the viability of the scheme. 

Proposed amendment:

1)            Instead of removing the £2m retrofit hub budget, fund this through capital receipts, and reduce the capital receipt allocation to the SLR by £2m.

2)            Remove the SLR elements for 2024 onwards, reducing the allocation to the £800k identified as required for 2023/24, on the basis that further proposals for SLR funding in future years can and should come to council as part of the normal annual budgeting process.

Councillor Chowns proposed the amendment above to the original motion.

Councillor Heathfield seconded the amendment.

Council debated the proposed amendment. There was division among the membership. It was the contention of some members that the retention of the retrofit hub was essential to meeting climate and cost of living challenges. The removal of proposed capital funding to support the southern link road was opposed by other sections of the membership; the reduction in investment would not allow access to additional sources of funding towards the infrastructure project.

The proposed amendment was put to the vote and was lost by a simple majority.

The original motion was put to the vote and was carried by a simple majority.

RESOLVED – That Council:

a)            Approve the revised capital programme for 2023/24 attached at appendix C;

b)            The chief finance officer be authorised, following consultation with the Cabinet Member Finance and Corporate Services to make in year amendments to the final value included for the investment projects for (i) from Wye Valley Trust (WVT) and (ii) . Also the investment project from Herefordshire and Worcestershire Group Training Association (HWGTA), in both instances, based on the final approved business cases;

c)            Approve the Flexible Use of Capital Receipts of up to £1.6m in 2023/24, to support transformation to generate ongoing revenue savings and reduce service delivery costs in future years; and

d)            The chief finance officer be authorised, following consultation with the Cabinet Member Finance and Corporate Services to make in year amendments to the final value included for the relocation of the library to the Shirehall based on the final approved business case and utilise the grant award from Stronger Towns Board.