That it be recommended that Council:-

1. approve and adopt the Summary Investment Strategy as detailed in Appendix 1 to the report considered in Part II of the agenda.
2. approve the increase to the Capital Investment Programme  in 2017/18 as detailed in Appendix 2 to the report considered in Part II of the agenda.
3. approve the governance structure and reporting and monitoring arrangements proposed for an Investment Management Board (IMB) as detailed in Paragraphs 15 of the report.
4. approve the setting up of an Investment Management Company to manage investments where appropriate and delegate authority to the Director of Legal and Democratic Services in consultation with the Chief Executive and the Executive Member for Investment to take all necessary steps to establish a company with the powers to invest and manage investments in line with the Summary Investment Strategy.
5. delegate decision making in accordance with the provisions of the Summary  Investment Strategy to the IMB.
6. approve the amendment to the MRP policy as outlined in Paragraph 19 of the report.
7. approve the changes to the Prudential Borrowing indicators as set out in Appendix 2  to the report considered in Part II of the agenda.
8. approve the changes to the Treasury Management investment counterparty limits as detailed in Appendix 3 to the report considered in Part II of the agenda.

To increase the level of the Investment Fund to allow the Council to invest to support its functions and to secure a balanced portfolio of investment assets which will help in mitigating risk and maximising returns.

The Council could choose not to increase the Capital Programme but this would limit the opportunities which the Council is able to take in order to support economic growth and regeneration in the Borough and restrict the resources available to acquire a balanced portfolio of investment assets. It would also mean that the ability to generate new sustainable income streams would be missed and the potential to reduce the budget deficit through increased income would be lost.