To receive and consider the reports, minutes and recommendations of the recent meetings as follows:
- 7 March 2019
- 4 April 2019
2) Scrutiny Committee
- 18 March 2019
- 15 April 2019 (to follow)
(3) Audit Committee
- 19 March 2019
(4) Environment Policy Development Group
- 5 March 2019
(5) Homes Policy Development Group
- 12 March 2019
(6) Economy Policy Development Group
- 14 March 2019
(7) Community Policy Development Group
- 15 March 2019 – Joint Committee
- 19 March 2019
(8) Planning Committee
- 6 March 2018
- 3 April 2019
- 17 April 2019 (to follow)
(9) Licensing Committee
- 1 March 2019
(10) Regulatory Committee
- 1 March 2019
The Leader presented the report of the meeting of the Cabinet held on 7 March 2019
1. Supporting the formation of a South West Mutual Bank (Minute 167)
The Leader MOVED seconded by Councillor R J Chesterton:
THAT the recommendations of the Cabinet as set out in Minute 167 be ADOPTED.
Upon a vote being taking, the MOTION was declared to have been CARRIED.
To consider a report of the Chief Executive on supporting the formation of South West Mutual previously presented to Cabinet on 7th March 2019.
The Committee received a *report of the Chief Executive on supporting the formation of South West Mutual previously presented to Cabinet on 7th March 2019.
The Chief Executive outlined the content of the report and explained that the first stage of the process was to obtain a bankers licence. He explained that Cabinet had recommended to Council that the scheme be supported and that it was felt that it brought community benefit.
There was a general discussion on the disappearance of high street banks in the district and that the Post Office had recognised a need for rural banking by opening up previously closed branches.
The Deputy Chief Executive (S151) explained that across the country there were a number of mutuals exploring the potential of opening local branches. He explained that at this stage it was too early to predict where the branches would be situated, but if the mutual bank were to be successful clearly the council would be seeking to highlight those communities where access to banking facilities was now severely limited in order to try and influence branch location
Note: *Report previously circulated and attached to the minutes
To consider a report of the Chief Executive seeking approval to invest £49,995 to support the next stage in the setting up of South West Mutual.
The Cabinet had before it a * report of the Chief Executive seeking approval to invest £49,995 to support the next stage in the setting up of South West Mutual.
The Deputy Chief Executive (S151) outlined the contents of the report stating that a number of Local Authorities were making investments including South Hams, West Devon, East Devon and Teignbridge. There were ongoing discussions with Plymouth, Devon County, Somerset and Dorset who were likely to consider investing in round two. The cost of officers working on the scheme was being met by the social investment business fund and not borne by MDDC.
Consideration was given to:
· The reduction in numbers of High Street Banks servicing our Towns and Parishes
· The importance of Local Authorities supporting their communities with initiatives which benefitted them
· The risks associated with the scheme
· The need for the Council to be regularly updated by the bank
RECOMMENDED to Council that:
(Proposed by The Chairman)
Note: *Report previously circulated, copy attached to minutes.