Somerset votes to increase long-term investments to boost revenue
0Somerset County Council has agreed to increase the level of its strategic investments from £10m to £60m.
A full meeting last week approved the plan, which is aimed at achieving a higher return by reducing exposure to short-term investments.
An officer report to the council said: “This strategy of increasing our strategic investments and reducing our short-term investments would generate an additional income of over £1m over the next two years.
“Taking this approach will expose the council to risks on the capital values of the investment but these will only be realised if the investments are sold and the intention is to hold these investments for the longer term.”
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