New committee will oversee performance of public money spent by organisations in Peterborough

Cllr David Seaton (left) who is on the new shareholder committee, and Cllr John Holdich

The idea is that new partnerships are formed with the council, which will then invest public money to deliver services for the people of Peterborough, while at the same time earning a dividend on the money invested.

Making the announcement at Peterborough City Council’s Cabinet meeting yesterday (Monday, February 4), Cllr John Holdich, leader of the council, said: “Over a number of years this council has secured the delivery of its services through a series of different arrangements.

“This new committee will be responsible for a host of functions including monitoring the performance and financial delivery of these new partnerships that range from wholly owned companies of the council, to joint venture partnerships and charities, through to private outsourced arrangements.”

Some of the arrangements already in place will be familiar, and include Peterborough Limited, Blue Sky Peterborough, Empower Peterborough, Medesham Homes Limited, Opportunity Peterborough, Peterborough Investment Partnership LLP and Peterborough Museum and Art Gallery.

The five-member Shareholder Cabinet Committee will consist of: Cllr Wayne Fitzgerald (chairman), Cllr Marco Cereste, Cllr Sam Smith, Cllr David Seaton and Cllr Irene Walsh.

All are Conservative members of the Cabinet.

Robert Alexander , Local Democracy Reporting Service