Issue - meetings

Exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972. The report contains information relating to the financial or business affairs of any particular person (including the authority holding that information). It is considered that in all the circumstances of the case the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Following the advice of the Director of Corporate Services (the Monitoring Officer), the Leader of the County Council agreed that this report would be considered in Part I of the meeting. A copy of the report was subsequently published on the council's website.

Cabinet received a report on the Clean Energy and Technology Diversification Fund. The report detailed the economic impacts of the current pandemic and the increasing pace at which the industrial base of Lancashire has continue to shift. The report therefore proposed a county council loan to fund and support Lancashire to attract new investment.

Resolved: That;

  i.  A county council £10 million loan fund to support Lancashire to attract inward investment in new and emerging growth sectors as detailed in the report, be approved; and

  ii.  The Executive Director of Growth, Environment, Transport & Community Services, the Director of Finance and Director of Corporate Services be authorised to conclude all necessary processes and sign off such loans in consultation with the Cabinet Member for Economic Development, Environment and Planning.