COUNCILLORS have approved a plan to spend up to £150,000 on developing a business case for a new, publicly-owned livestock market in Malton.

Members of Ryedale District Council’s policy and resources committee voted six for, three against and one abstention on a motion to put the proposal to full council.

Chairman Cllr Luke Ives stressed that the decision on the table was just about the business case and not about the full plans, which will need to be approved at a later date.

The full plans, which emerged last week, would see the council own the land and the new market and facilities near Eden Camp, but lease it out to private companies to manage and run.

Cllr Ives said that the income that could be generated by leasing out a council-owned market to the auctioneers was higher than the income currently generated by the money in the council’s bank account.

“This is a matter that’s been going on for decades,” he said, adding that “the plan will safeguard this asset for the farming community for some time”.