Decision details

Prudential Code consultation and proposed changes to Minimum Revenue Provision and possible debt caps

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes


The report set out details of a current consultation launched by the Chartered Institute of Public Finance and Accountancy (CIPFA) and proposed a draft response for formal approval. The report also provided an update on potential changes to financial rules that are currently being considered by the Government.





I.  Agrees the response to the CIPFA consultation as set out in Appendix One; and

II. Notes the position in respect of Minimum Revenue Provision and possible debt caps; and

III. Confirms that there will be no additional investment portfolio acquisitions until the changes to financial rules, MRP and caps have been clarified.


Publication date: 16/11/2021

Date of decision: 15/11/2021

Decided at meeting: 15/11/2021 - Cabinet

Effective from: 24/11/2021

Accompanying Documents: