The Director of Resources introduced a report on the Investment Strategy. In February 2018, the former Ministry for Housing, Communities and Local Government (MHCLG), (now Department for Levelling Up, Housing and Communities (DLUHC)) published updated ‘Guidance on Local Government Investments’. The previous edition covered only Treasury Management investments. In recent years local authorities had had an increasing focus on commercial activities including but not exclusive to property. Such activity had the potential to bring both increased returns and increased positive and negative risk. The revised Guidance on Local Authority Investments required that a separate Investment Strategy focusing on non-treasury investments was produced and approved annually by Council.

This report fulfilled the requirement of the DLUHC to produce an investment strategy that covered non-treasury activities.

On a motion by the Chair, seconded by Councillor Yvonne Nolan, it was -

RECOMMENDED – To Council, the approval of the Investment Strategy for 2022/2023 which includes potential investment in the following activity areas:

1.  Commercial Property

2.  Service Investments: Loans

3.  Service Investment: Shares (non-currently held)

4.  Loan Commitments and Financial Guarantees