Consideration has been given to the impact of Covid-19 on Gateshead Trading Company and to the allocation of a grant to mitigate the financial impact of the pandemic on the Company.

RESOLVED -

(i)

That the impact of Covid-19 pandemic on the activities of Gateshead Trading Company be noted.

(ii)

That the allocation of Covid-19 grant for a maximum value of the amount set out in the report, to Gateshead Trading Company, to mitigate the additional unforeseen financial impact of the pandemic be approved.

The above decision has been made for the following reasons:

(A)

To contribute to the sound governance, operational and financial management of the Council’s wholly owned subsidiary companies.

(B)

To support the delivery of homes in Gateshead, including affordable, which contribute to achievement of Thrive priorities.