Decision Maker: Council, Executive

Outcome:

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: February 12, 2026

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.