To recommend to Council for approval the capital investment budget and capital strategy for 2023/24 onwards.

Cabinet considered a report on the proposed capital investment budget for 2023/24 and capital strategy. The cabinet member finance, corporate services and planning introduced the report and explained that a recommendation was required from Cabinet to put to the forthcoming meeting of the Council. New items for the capital investment budget have been selected on business need and ability to deliver.

Cabinet members discussed the report and it was noted that:

·       There are strict rules for councils about the use of revenue funding and capital spend;

·       External funding will be sought where available and appropriate.

Group leaders gave the views and comments of their groups, with the planned investment generally welcomed. It was noted that contingency funding has been allowed in each business case to cover a range of uncertainties, including inflation, but it is still challenging to mitigate the economic situation.

It was resolved that:

the following be recommended to Council

a)             To approve the proposed capital programme from 2023/24 attached at appendix C; and

b)             Approve the capital strategy at appendix D.

Cllr Gemma Davies left the meeting at the conclusion of this item.