Purpose

This report provides Cabinet with a mid-year
review of the Council’s Treasury Management Strategy
Statement and Annual Investment Strategy for 2023/24, approved by
Council on 23 February 2023, and has been prepared in accordance
with the CIPFA Code of Practice for Treasury Management in the
Public Services.

Content

The Cabinet has
considered the Treasury Management Strategy and Annual Investment
Strategy Mid-Year Review Report 2023/24 and has agreed to
recommended that the Council Meeting:-
 
(1) Note the report
and the treasury activity in the first half of the financial
year.
 
(2) Note the revised
interest rate forecasts for Bank Rate and PWLB rates over the short
and medium-term, which will drive the Council’s long-term
borrowing strategies going forward.