The English councils that have gone ‘bankrupt’: Birmingham becomes the latest authority to run out of cash amid warnings dozens more could follow – is your local authority at risk? The Labour-run local authority will halt almost all spending in the city Councillors blamed lower business rates, inflation, and adult social care bills By Tom…
Britain’s second-largest city effectively declares bankruptcy Link Copied! Britain’s second-biggest city effectively declared itself bankrupt, shutting down all nonessential spending after being issued with equal pay claims totaling up to 760 million ($954 million). CNN’s Anna Stewart reports. 03:02 – Source: CNN Read the full article at: https://edition.cnn.com/videos/business-money/2023/09/06/exp-birmingham-bankruptcy-stewart-090610aseg2-cnni-money.cnn
01:00 Local government bodies on Tuesday warned that more councils across the UK could declare themselves in financial dire straits, after the country’s second biggest city said it could not balance its books. Birmingham City Council in central England said it had issued a Section 114 Notice under the Local Government Finance Act 1988, effectively…
Birmingham City Council is one of Europe’s largest local authorities BERTRAND LANGLOIS RECASTS throughout, ADDS quotes, background, statistics Local government bodies on Tuesday warned that more councils across the UK could declare themselves in financial dire straits, after the country’s second biggest city said it could not balance its books. Birmingham City Council in central…
Britain’s second-largest city has reportedly declared itself bankrupt and has shut down all non-essential spending after being issued with equal pay claims totaling up to 760 million ($956 million). According to a report by CNN, the deficit arose due to difficulties paying between around $816 million and around $954 million in equal pay claims. Birmingham…
Queenslanders are doing it among the toughest in Australia when it comes to staying afloat during a cost of living crisis. Personal insolvencies across Australia have spiked in the 2023 June quarter, according to new statistics released by the Australian Financial Security Authority (AFSA) with 2,705 new personal insolvencies in the three-month period up 17…
LONDON: Local government bodies on Tuesday (Sep 5) warned that more councils across the UK could declare themselves in financial dire straits, after the country’s second biggest city said it could not balance its books. Birmingham City Council in central England said it had issued a Section 114 Notice under the Local Government Finance Act…
The crisis in local authorities was laid bare on Tuesday as Birmingham city council in effect declared itself bankrupt, with experts warning that others across the UK were now living hand to mouth. The councils head of finance took the dramatic decision on Tuesday to issue a section 114 notice, indicating that it did not…
By Sophie Madden & Rebecca Woods BBC West Midlands reporters The leader of Birmingham City Council insisted vital services would be protected as the authority declared itself effectively bankrupt. The largest local authority in Europe is to halt all spending other than services it must provide by law such as social care, waste collections and…
Local government bodies on Tuesday warned that more councils across the UK could declare themselves in financial dire straits, after the country’s second biggest city said it could not balance its books. Birmingham City Council in central England said it had issued a Section 114 Notice under the Local Government Finance Act 1988, effectively declaring…