To recommend to Cabinet the approval in principle of the establishment of a Covid 19 Recovery and Investment Fund to support Herefordshire businesses.

Cabinet member for finance, corporate services and planning introduced the item, details of which are contained within the agenda pack.

It was noted that when the more detailed work was done, there may not be a lot of demand for this fund.

The group leaders provided the views of their political party.

RESOLVED that

a)         Cabinet approve further investigation into the establishment of a recovery and investment fund to support Herefordshire businesses post Covid 19.

b)        Cabinet approve the principles and objectives of investment for a Herefordshire Recovery and Investment fund as detailed in paragraph 13.

c)        Cabinet authorises the Acting Deputy Chief Executive, Chief Finance Officer, to develop the scheme details based on the principles set out within this report and report back with the final proposals.