Councils declaring bankruptcy
Since 2018 8 council have declared bankruptcy including 4 in the past 15 months which are, Woking, Nottingham, Birmingham and Thurrock.
Almost 1 in 10 councils in England have warned that they will go bankrupt in the next 12 months due to financial trouble.
A survey based on 160 responses from 128 councils out of 317 shows the widespread concerns and struggles. It found that 9 in 10 council plan to raise council tax whilst others will be raising the price of services such as parking and waste disposal.
They expressed their struggles over the costs of childrens services and the soaring homelessness bills as the biggest risk factors for district councils.
The problems of Birmingham Council
In late 2023 Bir…
Read the full article at: https://www.finance-monthly.com/2024/05/is-your-council-declaring-bankruptcy/