Decision details

That:

1)     The capital programme review carried out by directors and lead members be noted and approved, which includes;

·           Confirmation for £136m of capital projects to continue as planned.

·           Savings of £12.5m achieved through the removal of projects or reductions in budget. Taking into account lost capital receipts, the net saving is £9.3m. Details set out in Appendix A.

·           Re-profiling capital budgets of £15.7m from 2022/23 into future years. Details set out in Appendix B.

2)   The £4m saving identified from ‘Managing Congestion & Pollution’, to be reinvested in ‘Active Travel and Bus Priority’ over two years (£2m in 2023/24 and £2m in 2024/25) and considered as part of the medium term financial plan for 2023/24 be approved; and

3)   The figures in recommendation one are in addition to the financial information presented in the Capital Monitoring 2022/23 - Quarter 1 Executive report be noted.