A PROPOSED capital investment strategy has been adopted following a vote at Tuesday's (July 9) meeting of Cumberland Council.

The meeting was held at the Civic Centre in Carlisle and the report was presented by councillor Barbara Cannon (St Michaels, Labour) who is the portfolio holder for financial planning and assets.

She said it was the first time the strategy had been brought to the council but it had been discussed by other groups such as at overview and scrutiny committees.

She added: "This strategy needs to underpin the budget."

Cllr Cannon said that the 'elephant in the room' was the fact that there was a new Labour government and an updated variation of the strategy would be further proposed in the autumn.

The report states: "The main purpose of the Capital Investment Strategy is to define how Cumberland Council will maximise the impact of its limited capital resources to deliver its key aims and priorities.

"It considers future capital investment needs, especially in relation to transformation, regeneration, and the growth agenda, and ensures the optimum impact of those investments.

"It also helps the council to be clear on its priorities for bidding for external funding."

The report highlights likely areas for investment support council priorities including:

  • Facilitating growth – strategic housing and commercial development;
  • Residential homes – children’s/adults;
  • Education and training sectors;
  • Maintaining operational assets to deliver public services;
  • Developing community and leisure hubs;
  • Developing and improving income stream;
  • Delivering transformation through new and existing opportunities

Councillor Helen Davison (Belah, Green Party) said: "For a financial document this read very well to the point I understood it!"

However, she said there were a lot of abbreviations and acronyms in the report and suggested that it would be helpful if some sort of explanation of their meanings could be included.

When the document was put to the vote councillors voted that it should be adopted by the council.