Cornwall Council is set to spend £1.3billion on major projects including housing, transport and schools.
Details of the council’s capital programme are set to be presented to the full council meeting this week with councillors being asked to approve increasing the total by £145.5million.
The increase is to cover projects included in the council’s budget and housing plans as well as the capital programme for the Tamar Bridge and Torpoint Ferry, a scheme to help town centres and a new community hub for Launceston.
If approved it means the council’s capital programme will total £1.308bn.
For 2020/21 the council is looking to spend £474m on capital projects.
The programme is open ended so it currently runs to 2023/24 “and beyond” in the documents going to council.
These also show where the money is set to be spent, with the biggest share going to the council’s investment programme.
Full breakdown of capital programme:
Investment Programme – £364m
Housing – £351m
Transportation – £259m
Waste – £67m
Education and Early Years – £53m
Culture and Economic Development – £47m
Environment – £41.7m
Property – £35.6m
Fire & Rescue – £21.9m
Customer and Support Services – £17.8m
Green Cornwall – £14m
Growth Deal – £14m
Planning and Sustainable Development – £6.5m
Adult Social Care – £5.9m
Devolution – £3.8m
Children and Family Services – £2.9m
The council also details how the capital programme will be funded with the main source being borrowing:
Prudential borrowing – £580m
Grants and contributions – £330m
Internal borrowing – £127m
Capital receipts – £102m
Housing Revenue Account revenue and reserves – £93m
General Fund revenue and reserves – £74m
The full council will meet on Tuesday (February 25) to approve the increase in the capital programme.
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