Agenda and draft minutes

To receive any disclosures of interest from Councillors in accordance with the Council’s Code of Conduct for Members.

Councillors Attewell, Boparai, Mooney and Weerasinghe advised they were also Surrey County Councillors.

Councillor Nichols declared that he sits on the Knowle Green Estate Board of Directors and Councillor Woodward advised that he is on the Spelthorne Director Services Board.

This is a draft report as it is to be considered by the Corporate Policy and Resources Committee on 11 November so may be subject to amendments.

Council considered the following amended motion proposed by Councillor Boughtflower and seconded by Councillor Lee:

That the Council commissions further independent external advice from no fewer than two suitably qualified experts or specialist firms with demonstrable expertise in Minimum Revenue Provision (MRP) and Local Government debt management. Such experts shall be appointed following approval by a cross-party member panel. The appointed advisors shall report back to the Council in early 2026 with a comprehensive set of options and recommendations to enable the Council to determine the most appropriate and sustainable approach going forward subject to Budget setting provision in consultation with the Council’s Section 151 Officer.

Councillor Boughtflower requested a recorded vote.

The amended motion FELL

Council considered the main motion.

Councillor Clarke requested a recorded vote

Council resolved to approve the proposed new MRP Policy Statement for 2025/26 as set out in Appendix A of the report.

This is a draft report as it is to be considered by the Corporate Policy and Resources Committee on 11 November so may be subject to amendments.

Council considered a report that sought approval of the Debt Rescheduling Proposal for implementation during 2025/26 subject to the Chairs of the Business, Infrastructure and Growth Committee, the Commercial Assets Sub-Committee and the Corporate Policy and Resources Committee being consulted and approving before a re-financing transaction is initiated if PWLB rates movements result in the discount benefit to the Council falling below £320m.

Council considered the following amended motion proposed by Councillor Boughtflower and seconded by Councillor Lee:

That the Council commissions further independent external advice from no fewer than two suitably qualified experts or specialist firms with demonstrable expertise in Local Government debt management. Such experts shall be appointed following approval by a cross-party member panel. The appointed advisors shall report back to the Council in early 2026 with a comprehensive set of options and recommendations to enable the Council to determine the most appropriate and sustainable approach going forward subject to Budget setting provision in consultation with the Council’s Section 151 Officer.

Councillor Boughtflower requested a recorded vote.

The amended motion FELL

Council considered the main motion.

Councillor Boughtflower requested recorded vote.

Council resolved to approve the debt rescheduling proposal for implementation during 2025/26 subject to the Chairs of the Business, Infrastructure and Growth Committee, the Commercial Assets Sub-Committee and the Corporate Policy and Resources Committee being consulted and approving before a re-financing transaction is initiated if PWLB rates movements result in the discount benefit to the Council falling below £320m.

This is a draft report as it is to be considered by the Corporate Policy and Resources Committee on 11 November so may be subject to amendments.

This item was deferred to the next Council meeting to be held on 11 December 2025.

This is a draft report as it is to be considered by the Corporate Policy and Resources Committee on 11 November so may be subject to amendments.

This item was deferred to the next Council meeting to be held on 11 December 2025.

This is a draft report as it is to be considered by the Corporate Policy and Resources Committee on 11 November so may be subject to amendments.

This item was deferred to the next Council meeting to be held on 11 December 2025.

This is a draft report as it is to be considered by the Corporate Policy and Resources Committee on 11 November so may be subject to amendments.

This item was deferred to the next Council meeting to be held on 11 December 2025.

This is a draft report as it is to be considered by the Corporate Policy and Resources Committee on 11 November so may be subject to amendments.

This item was deferred to the next Council meeting to be held on 11 December 2025.