UK’s second-largest city ‘declares bankruptcy’ ...News

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UK’s second-largest city ‘declares bankruptcy’
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All new spending, except mandatory services such as the protection of vulnerable people, has been ceased in Birmingham Birmingham, the largest metropolitan area in the UK outside of London, has effectively declared itself bankrupt as its city council shut down all non-essential spending after being hit with a potential $956 million equal pay settlement bill. In a statement on Tuesday declaring itself as being in financial distress, Birmingham City Council said it will “tighten the spend controls already in place” and appoint an external administrator to oversee short-term fiscal planning. “In June, the council ann

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