Levelling up secretary Michael Gove has called in officials to take over the running of the city after the Labour-led local authority effectively declared itself insolvent nearly two weeks ago.
City Council went bust earlier this month - and calls have been made for the city to consider selling off some major assets in order to balance the books.has called in officials to take over the running of the city after the Labour-led local authority issued a section 114 notice - effectively declaring itself insolvent - nearly two weeks ago.
The authority is set to put together a financial recovery plan on September 25 and ask the government for 'exceptional financial support' - most likely allowing them to borrow money to service debts or selling assets. Mr Street wrote: 'The idea of Birmingham City Council selling its cultural assets to help its finances seems a red herring - & something I’d be totally against.
Birmingham Airport, which first opened in 1984, is owned by the West Midlands' seven district councils, including Birmingham City. The building could be sold to another owner in a 'leaseback' deal, which would see the building purchased by a private firm and then rented back to the council.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Commissioners to run Birmingham City Council’s finances, Michael Gove saysCommissioners will be appointed to take over Birmingham City Council and a local inquiry will be launched into the authority after it declared itself effectively bankrupt.
Læs mere »
Michael Gove announces intervention into 'bankrupt' Birmingham City CouncilBirmingham City Council declared itself effectively bankrupt after being hit with a £760m bill to settle equal pay claims.
Læs mere »
Levelling up minister Dehenna Davison quits due to chronic migraineThe MP for Bishop Auckland said the condition means she is no longer able to carry out her ministerial role.
Læs mere »
Levelling up minister quits government due to chronic migraineThe Bishop Auckland MP said the health problem 'has had a great impact on my ability to carry out the role'
Læs mere »