Yuva Patrkaar : Till now you must have heard about businessmen and companies going bankrupt, but now there is news of the city being declared bankrupt. Yes, you heard it right, Birmingham City, the second largest city of Britain, which rules the whole world, has declared itself bankrupt. Because of this, even the salaries of many employees have been stopped. Let us tell you that Birmingham has effectively declared itself bankrupt and has stopped all non-essential expenses. Media report Birmingham City has pending equal pay claims worth up to £760 million (about $956 million).

According to CNN Report, Birmingham City Council, which provides services to more than 1 million people. A Section 114 notice was filed on Tuesday, prohibiting all expenditure except on essential services. Let us tell you that the loss has arisen due to difficulties in paying between 65 to 76 crore pounds in equal pay claims. The city is now expected to suffer a deficit of £87 million in the financial year 2023-24.

Council Deputy Leader Sharon Thompson told councilors on Tuesday she was facing “long-standing issues including the council’s historic equal pay liability concerns”. Thompson also blamed Britain's ruling Conservative Party to some extent. He said that one billion pounds of funding has been snatched away by Conservative Governments in Birmingham.

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A spokesman for British Prime Minister Rishi Sunak said that it is for locally elected councils to manage their own budgets. The spokesperson said the government is engaging with them regularly. Expressed concern about his governance. Has requested assurances from the council leader about the best use of taxpayers' money. The multicultural City of Birmingham is the largest in central England. And the city hosted last year's Commonwealth Games and is scheduled to host the 2026 European Athletics Championships.

Superfast News Coverage By YuvaPatrkaar.com Team

Publish Date: September 7, 2023

Posted By Ravi Kumar

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