Agenda

In accordance with Rule No. 3.3.3 the following question has been submitted to the Council from Councillor Johno Lee:

“Since November 2020, national government rules have been tightened to stop councils borrowing money in order to make a commercial profit. These changes apply directly to council-owned companies such as Arkwood, and make clear that: councils should not borrow in order to invest in companies like Arkwood; should not operate companies such as Arkwood primarily to generate commercial income; and should not rely on income from companies like Arkwood to support or protect the Council’s core budgets or its Medium Term Financial Plan. This position was reinforced by revised PWLB lending rules and the updated CIPFA Prudential Code issued in December 2021.

The same guidance also makes clear that where a council owns a company such as Arkwood, that company must be kept under regular and formal review by elected members, with clear oversight of financial risk, borrowing, and whether Arkwood’s activities remain appropriate and compliant with national labour government guidance. This is particularly important where Arkwood is involved in development activity, exposed to market risk, or operating outside the District.

In that context, and given the Council’s continued ownership and operation of Arkwood as an income-generating company, including references to Arkwood in financial planning discussions, when was Arkwood last formally reviewed by the Council, and by which committee?”

In accordance with Rule No. 3.4.3, the following motion is to be considered:

Motion 1 - ‘Tourism Tax’

To consider resolving that, under section 100A (4) of the Local Government

Act 1972, the public be excluded from the meeting for the following items

of business on the grounds that they involve the likely disclosure of exempt

information as defined in Part 1 of Schedule 12A of the Act.