Agenda item

Revised Policy Statement on Minimum Revenue Provision (MRP) for 2025/26

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.

Minutes:

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.

 

For

Councillors Attewell, Bhadye, Bing Dong, Boughtflower, Brennan, Buck, Chandler, Clarke, Howkins, Islam, Lee, Mathur, Mooney, Saliagopoulos, Weerasinghe, Woodward – 16 votes

Against

Councillors J Doran, Dunn, Barker, Bateson, Beatty, Beecher, Boparai, Burrell, Button, Caplin, S Doran, Geraci, Gibson, Grant, Gyawali, Nichols, Rutherford, Turner, Williams – 19 votes

Abstain

0 votes

 

The amended motion FELL

 

Council considered the main motion.

 

Councillor Clarke requested a recorded vote

 

For

Councillors J Doran, Dunn, Barker, Bateson, Beatty, Beecher, Boparai, Burrell, Button, Caplin, S Doran, Geraci, Gibson, Grant, Gyawali, Nichols, Rutherford, Turner, Williams – 19 votes

Against

Councillors Attewell, Bhadye, Bing Dong, Boughtflower, Brennan, Buck, Chandler, Clarke, Howkins, Islam, Lee, Mathur, Mooney, Saliagopoulos, Weerasinghe, Woodward – 16 votes

Abstain

0 votes

 

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

 

Supporting documents: