The Birmingham city council's bankruptcy is linked to a likely overstated equal pay liability, which overshadowed other monumental financial missteps.
The independent auditors stated they did not verify the 760m equal pay figure, raising concerns about the accuracy of the claims leading to the bankruptcy.
A costly launch of a new IT system and the impact of Covid and austerity compounded the council's financial woes, leading to drastic cuts.
The council's rushed bankruptcy notice led to the forced sale of 750m of public assets at significantly reduced prices, causing long-term consequences.
#birmingham-city-council #bankruptcy #financial-mismanagement #equal-pay-liability #local-government-issues
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