‘Bankrupt’ council facing £50m spending gap as cuts to services loom.
A council which declared itself effectively bankrupt has proposed cutting more than 500 jobs as it faces a £50 million budget gap in the next financial year.
Nottingham City Council issued a section 114 notice on November 29, meaning it cannot balance its budget, after a £23m in-year overspend in 2023-24.
The Labour-run authority has said that it is now facing an even larger budget gap for 2024-25, with the council claiming that its core spending power has reduced by more than 28% and money from the Government has reduced by £97 million every year since 2013-14.
Ilona. 13.12.2023
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