Bankrupt Birmingham City Council Could Be Forced To Sell Assets To Pay Off Debt

Birmingham City Council is reportedly considering the sale of its Central Library, Birmingham Museum and Art Gallery, Sarehole Mill Museum, and its stake in Birmingham airport. This decision comes as the council, which is known to be the largest local authority in Europe, is set to be put under special measures.

As a result, the Government will be appointing commissioners to oversee the council's day-to-day operations and assess the feasibility of asset sales.

The announcement is expected to be made by Housing Secretary Michael Gove tomorrow.

TalkTV’s Vanessa Feltz is joined by former council adviser Max Caller to gain insights into the matter.

Max: “The only way you can pay back debt is by selling capital assets!”

#talktv #talkradio #birmingham

[francescostello]

It is illegal to do business with a bankrupt company, therefore, people need to stop paying their council tax.

[Traderhorn]

Councillors should be held personally accountable for their actions and made to pay back the losses for incompetence and sell their own personal assets, as a warning to others.

[Jimbo_Jumbo]

Birmingham has so much potential. The problem is the diverse onee that live here in ethnic ghettos.

[MrDenzal]

England has long seen its best days. Its all downhill from here.

[jamesmoran]

All these assets will be sold off to their bent mates at discount prices.

[FeckWoke]

Start with selling off the councillor's assets. Houses, cars, second and third houses and cars, other houses and cars.

[onetech]

stop corporations [councils] investing/lending taxpayers

[BobMonty]

No council tax according to baldy expert here ? So if they sell the local library to one the friends and family that’s ok ? Remember if a company or organisation is bankrupt u don’t keep paying for NON SERVICES!

[PLuMUK]

Whatever happens, it's the residents of Birmingham who will suffer, many of whom have never voted for Labour. It has been obvious for years that the city council was unfit for purpose.

[chickenfooker]

So we should pay for the greedy bureaucrats who created this situation? How about we just take the money from the rich to settle the tab.

[NubianGirl-dkul]

Sold to who? How do you know that these buyers are safe people to own our libraries etc, where children are the biggest users?

[ryansweeney]

Here goes what's left of our country

[skipmole]

I'm guessing bankruptcy means they will have to agree a settlement package with their creditors, which will obviously not be the full amount. They need to be careful to sell off public liabilities but not assets, or this will become a self perpetuating occurrence.

[williamsafari]

are the top men in the council still being paid their big wages.

[angelachanelhuang]

overspending money they don't have

[jamesmoran]

Birmingham will own nothing but they'll be happy.

[marjoriesherrington]

Of course if you can't pay your debts or make an arrangement with your creditors you will need to sell any assets you hold.

[bgray]

2.4billion worth of assets to pay the debt off no problem with it

[lawrencebishton]

the problem is the money thats brought in to birmingham and the transport refurbishment to that of the similar arctects that created trams in the east Midlands aren, t well known to be doing as well has the likes of land marked areas in the further south

[billybunter]

the problem is we are not creating industry instead most of us buy things from china well what do you expect its cheaper also you cant buy anything in shops these days as its quicker to go on ebay we bought this on our selfs plus the torie government that has not invested in the uk industry for over 14 years.