Issue - meetings

To consider a report of the Deputy Chief Executive (S151) informing the Cabinet of the treasury performance during the first six months of 2019/20 and requesting agreement on the ongoing deposit strategy for the remainder of 2019/20 also to review compliance with Treasury and Prudential Limits for 2019/20.

The Cabinet had before it a *report of the Deputy Chief Executive (S151) informing it of the treasury performance during the first six months of 2019/20 and requesting agreement on the ongoing deposit strategy for the remainder of 2019/20 also to review compliance with Treasury and Prudential Limits for 2019/20.

The Cabinet Member for Finance outlined the contents of the report stating that it fully considered 3 Rivers Development Limited and the slippage in the capital programme. He highlighted the forecast for year end and the additional income which would be split between the HRA and General Fund, along with the issues of Brexit and its impact on treasury uncertainty if interest rates reduced.  There had been no additional borrowing in the current year.  The Leader asked how the increase in the PWLB interest rate would mpact on short term loans.

Consideration was given to recent investments and the rise in interest rates from the PWLB.

(Proposed by the Chairman)

Note:  *Report previously circulated, copy attached to minutes.