The Live Ahmedabad
  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured

The Live Ahmedabad

  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured
Uncategorized

U.K.’s second-largest city Birmingham declares itself effectively bankrupt

by TLAteam September 7, 2023September 7, 2023
written by TLAteam September 7, 2023September 7, 2023
U.K.’s second-largest city Birmingham declares itself effectively bankrupt

The local authorities running Britain’s second-largest city, Birmingham, have shifted focus on maintaining vital services as they declared the council effectively bankrupt due to an annual budgetary shortfall of millions of pounds.

Business News

Birmingham City Council, which is run by the Opposition Labour Party and is the largest local authority in Europe comprising over 100 councillors, issued a Section 114 notice on Tuesday to say that all new expenditures with the exception of protecting vulnerable people and statutory services will stop immediately.

The council said the dire financial situation arose as it must fund an “equal pay liability” that has accrued to date in the region of GBP 650 million to GBP 760 million, but it does not have the resources to do so.

“On that basis, the Council’s Interim Director of Finance, Fiona Greenway, has issued a report under section 114(3) of the Local Government Act, which confirms that the Council has insufficient resources to meet the equal pay expenditure and currently does not have any other means of meeting this liability,” the council statement reads.

0 comment
previous post
DCGI Issues Advisory against Digene Gel of Abbott India
next post
Man withdraws money from ATM using UPI in Mumbai. Anand Mahindra shares video

You may also like

Gujarat Govt Reduces Stamp Duty to 20% for...

June 30, 2025

Dual-Colour Number Plates Proposed for Hydrogen-Powered Vehicles

June 28, 2025

Sensex Rallies 750 Points After Trump’s Ceasefire Announcement

June 24, 2025

Amway India strengthens its immunity portfolio; launches Nutrilite...

June 18, 2025

South Africa Scripts History, Defeats Australia to Win...

June 14, 2025

Advance Tax Alert: June 15 Is a Holiday—Here’s...

June 14, 2025

Ahmedabad: Air India Plane Crashes After Mayday Call,...

June 12, 2025

Universal Studios to Open First-Ever Theme Park in...

June 9, 2025

DEO Cracks Down on RTE Violations, Issues Notices...

June 6, 2025

Chanda Patel Becomes First Female Filmmaker from the...

June 3, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Business News

Recent Posts

  • ICICI Prudential Life launches a market-linked product for the youth

    June 30, 2025
  • From Jaipur to Nagpur, Samsung Solve for Tomorrow Ignites a Nation of Problem-Solvers

    June 30, 2025
  • Biker Assaulted, Motorcycle Snatched in Broad Daylight Near Sarangpur

    June 30, 2025
  • Woman Dies After Dilapidated Building Balcony Collapses in Juhapura

    June 30, 2025
  • ₹10-Crore National Highway Stretch in Bharuch Washed Away in First Rain

    June 30, 2025
September 2023
MTWTFSS
 123
45678910
11121314151617
18192021222324
252627282930 
« Aug Oct »
The Live Ahmedabad
Footer Logo
  • Home
  • Ahd City
  • Business
  • Entertainment
  • Education
  • Crime
  • Health
  • Politics
  • Sports
  • Featured
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms of use
  • Advertise with Us
  • Work With Us
  • Contact Us

© 2021 - The Live Ahmedabad. All Rights Reserved.