Issue - meetings

note the Treasury Management activities undertaken to date in the 2024/25 financial year as detailed in this report.

The Committee had before it, by way of referral from Council of 11 December 2024, a report by the Director of Corporate Services, which provided an update on Treasury Management activities undertaken to date during financial year 2024/25.

The report recommended:-

that the Committee note the Treasury Management activities undertaken to date in the 2024/25 financial year as detailed in this report.

The Convener, seconded by Councillor Greig, moved:-

that the Committee approve the recommendation contained within the report.

Councillor Malik, seconded by Councillor Watson, moved as an amendment:-

that the Committee –

(1)    note the report; 

(2)    welcome the UK Government Chancellor of the Exchequer’s announcement regarding the National Wealth Fund, noting that the Labour Manchester Mayor, Andy Burnham is working to develop the Old Trafford area which is beside Manchester United Football Club’s stadium of that name; and

(3)    instruct the Chief Officer - City Development & Regeneration, following consultation with the Chief Officer - Finance and the Chief Officer - Commercial & Procurement Services, to bring a report to this Committee by the end of the calendar year on how the Council can access the UK Government’s National Wealth Fund to help regeneration around Pittodrie, to include Council housing, an upgrade to the Beach Ballroom, new sport facilities at the beach and a new football stadium for Aberdeen Football Club.

On a division, there voted:- for the motion (7) – the Convener and Councillors Allard, Brooks, Cooke, Farquhar, Greig and Radley; for the amendment (2) – Councillors Malik and Watson.

The Committee resolved:-

to adopt the motion.