Purpose

To receive a report on Investment Debt
Repayment and Standstill 2025-26 and 2026-27.

Content

Resolved

That the press and public be excluded from the
meeting during consideration of the confidential supporting
information which was referred to under agenda item 14A, in view of
the nature of the proceedings that, if members of the press and
public were present during this item, there would be disclosure to
them of exempt information as defined in paragraph 3 of Part 1 of
Schedule 12A, to the Local Government Act 1972.

Paragraph 3 – Information relating to the
financial or business affairs of any particular person (including
the authority holding that information)
Resolved

That (i)   it be
noted that the Council will be requesting Exceptional Financial
Support for 2026/27 and this request will incorporate the interest
and minimum revenue provision costs in relation to the loans made
to the company and the debt standstill and debt sweep contained
within the report;

       
(ii)  a 2026/27 financial year
investment debt repayment standstill on the Council’s
investment loans to the ThamesWey group
of companies be approved (subject to the conditions and caveats set
out in the report and subject to confirmation of Exceptional
Financial Support from central government) for the financial year
2026/27 as set out in recommendation (i);

       
(iii)  authority for approving a debt
sweep, for both VSWL and ThamesWey for
the extended period to the end of March 2027, continue to be
delegated to the Strategic Director of Finance and Resources, the
Strategic Director of Governance and Corporate Services and the
Chief Executive, in consultation with the Portfolio Holder for
Finance, following the application of the principles, assessments
and assurances provided within the July 2025 Debt Standstill report
to Executive;

        (iv) the
findings in the Part II report set out under Agenda Item 12 of the
Executive agenda titled Investment Debt Repayment and Standstill
for the ThamesWey Group 2025-26 and
2026-27 be noted; and

       
(v)  it be noted that the Council has
collected quarterly cash sweep payments from the Group.