Birmingham city goes bankrupt

Started 5 months ago by Starjo! in money matters

UK's second largest city declares bankruptcy

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UK's second largest city Birmingham city council has declared bankruptcy, halting all spending except for essential services. The council has blamed demands for equal pay and mismanagement for its financial crisis. The UK government has refused to provide additional funding.

Conservative party Prime Minister Rishi Sunak-led government has refused to come to the Birmingham City Council's rescue. The government had already provided extra funding for the council, at around 10 percent of its budget, but ''it's for locally elected councils to manage their own budgets,'' Prime Minister Rishi Sunak's spokesman Max Blain told reporters.

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