A report by the Interim Director of Finance proposed that a number of schemes within the Council Capital Programme be reduced or removed following a review of the Programme and, in particular, those schemes planned to be funded from unsupported borrowing.  The reduction in borrowing requirements would deliver savings in 2013/14 and subsequent years. 

The Cabinet was informed that, as part of the revised Capital Monitoring arrangements, the regular monthly report had identified the significant slippage that had occurred, and continued to occur, in the delivery of the agreed Programme. The Period 6 report (September 2012) presented to the Cabinet on 8 November 2012 included reference to a future report on proposals to cease or reduce schemes arising from a review of the current Capital Programme (Minute No. 212 refers).  The Appendix to the report  detailed the proposed reductions in the Capital Programme 2012/15 which had been proposed by Chief Officers and considered by Officer Groups (Executive Team, Budget and Capital Steering Groups).

RESOLVED:

That, it be recommended to the Council that, the Capital Programme be amended to reflect the changes detailed in Section 2 of the report, and summarised below and this be incorporated within the Period 8 (November 2012) Capital Monitoring Report:

Reduction in the Capital Programme and Reductions in Funding