Issue - meetings

This report summarises market conditions currently negatively affecting the Council’s recycling incomes.

Following consideration, the Committee:

(1)          Agreed to authorise officers to investigate options for mitigating the budgetary impact of negative market conditions.

The Committee received a report summarising the market conditions currently negatively affecting the Council’s recycling income.

The Committee was informed that China had banned the import of paper, card and plastics for recycling in late 2017 and early 2018 and that as a result an oversupply of such materials to the remaining markets had adversely affected the gate fee for their recycling and disposal. This had coincided with a reduction in the recycling credit payment made by Surrey County Council, and these two factors had led to a Quarter 1 full-year forecast overspend of c.£164,000.

Following consideration of the report, the Committee:

(1)          Agreed to authorise officers to investigate options for mitigating the budgetary impact of negative market conditions.