Local authority issues section 114 notice suspending spending as it admits it cannot balance budget
UK politics live – latest updates
Nottingham city council has issued a section 114 notice, in effect declaring itself bankrupt.
In an announcement on Wednesday, the local authority said its chief financial officer had decided it “isn’t able to deliver a balanced budget for this year, which is a legal requirement”.
Continue reading… The Guardian Read More Local authority issues section 114 notice suspending spending as it admits it cannot balance budgetUK politics live – latest updatesNottingham city council has issued a section 114 notice, in effect declaring itself bankrupt.In an announcement on Wednesday, the local authority said its chief financial officer had decided it “isn’t able to deliver a balanced budget for this year, which is a legal requirement”. Continue reading…
