Agenda item - Annual Investment Strategy 2015/16

Extract from the proceedings of the Policy & Resources Committee meeting held on the 19^th March 2015 (copy to follow), together with a report of the Interim Executive Director for Finance & Resources (copy attached).

76.1         Councillor Sykes introduced the report which outlined the Annual Investment Strategy for the Council and moved that it be approved by the council.

76.2         Councillor Duncan stated that he was disappointed by the strategy which he felt lacked vision and expressed concern over the fact that it continued to include establishments such as HSBC for investment purposes.  He suggested that it would be better to create a local investment fund that could be used to support the creation of housing and maintain facilities such as public conveniences around the city.

76.3         Councillor Sykes noted the comments and stated that whilst he had some sympathy with Councillor Duncan’s views, there was a need to invest funds across various establishments and officers had a very good track record. He therefore supported the recommendations listed in the report.

76.4         The Mayor noted that the recommendations had been moved and put them to the vote which was carried.

76.5         RESOLVED: That the Annual Investment Strategy 2015/16 as set out in appendix 1 to the report be approved.