{"id":38698,"date":"2023-12-08T15:01:31","date_gmt":"2023-12-08T15:01:31","guid":{"rendered":"https:\/\/uwejournalism.net\/bowernews\/?p=38698"},"modified":"2023-12-14T10:07:02","modified_gmt":"2023-12-14T10:07:02","slug":"bristol-city-council-are-likely-to-declare-bankruptcy-expert-says","status":"publish","type":"post","link":"https:\/\/uwejournalism.net\/bowernews\/2023\/12\/08\/bristol-city-council-are-likely-to-declare-bankruptcy-expert-says\/","title":{"rendered":"Bristol City Council are &#8220;likely&#8221; to declare bankruptcy, expert says"},"content":{"rendered":"\n<figure class=\"wp-block-video\"><video height=\"1080\" style=\"aspect-ratio: 1920 \/ 1080;\" width=\"1920\" controls src=\"https:\/\/uwejournalism.net\/bowernews\/wp-content\/uploads\/2023\/12\/Bristol-City-Council-Cuts.mp4\"><\/video><figcaption class=\"wp-element-caption\"><em>Economics Professor Jo Michell explains how council bankruptcy works.<\/em><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Bristol City Council are at high risk of declaring bankruptcy as growing financial pressures put the council in a very unstable position.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Several local councils, including Nottingham and Birmingham City, have already issued a Section 114 notice declaring effective bankruptcy.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A new survey, published on Wednesday states <a href=\"https:\/\/www.local.gov.uk\/about\/news\/section-114-fear-almost-1-5-council-leaders-and-chief-executives-after-cashless-autumn\">one in five council leaders<\/a> across the UK dread they will have to follow.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Political Economy expert and UWE economics professor Jo Michell said bankruptcy for Bristol City Council is \u201cquite likely\u201d, arguing \u201cWe\u2019re seeing the lagged effects of austerity that started in 2010\u201d.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This comes after the Autumn Statement, which included cuts to local grants, put essential services at risk.&nbsp;<\/p>\n\n\n\n<blockquote class=\"twitter-tweet\"><p lang=\"en\" dir=\"ltr\">1 in 5 Council leaders\/CXs fear their councils facing s114 notices. <br><br>There are fundamental issues facing <a href=\"https:\/\/twitter.com\/hashtag\/localgov?src=hash&amp;ref_src=twsrc%5Etfw\">#localgov<\/a> finances and we need a settlement that fixes the hole in funding, addresses pressures and is long term, allowing us to plan effectively for the future \u2b07\ufe0f <a href=\"https:\/\/t.co\/UnHXR8rHd6\">https:\/\/t.co\/UnHXR8rHd6<\/a><\/p>&mdash; Tom Renhard (@TomRenhard) <a href=\"https:\/\/twitter.com\/TomRenhard\/status\/1732822977257824376?ref_src=twsrc%5Etfw\">December 7, 2023<\/a><\/blockquote> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n\n\n\n<p class=\"wp-block-paragraph\">Shaun Davies, chairman of the Local Government Association (LGA) explains, \u201cIf social care services that councils provide cannot cope with demand, then the pressure on the NHS will grow further\u201d.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The financial peril continues for Bristol City Council as the \u00a332 million budget black hole is expected to rise significantly in years to come.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Labour Councillor Tom Renhard said on X, \u201cWe need a settlement that fixes the hole in funding, addresses pressure and is long-term, allowing us to plan effectively for the future\u201d.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The council have already announced several funding cuts to facilities in Bristol, with cultural venues <a href=\"https:\/\/www.bbc.co.uk\/news\/uk-england-bristol-67646524#\">Watershed and Bristol Old Vic<\/a> amongst those not recommended for funding in 2024.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite funding cuts, councillors are set to receive a <a href=\"https:\/\/www.bbc.co.uk\/news\/uk-england-bristol-67623188#\">6% pay increase<\/a> from the new council model, with all members receiving around \u00a31k extra to their annual allowance.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bristol City Council are at high risk of declaring bankruptcy as growing financial pressures put the council in a very unstable position. Several local councils, including Nottingham and Birmingham City, have already issued a Section 114 notice declaring effective bankruptcy.&nbsp; A new survey, published on Wednesday states one in five council leaders across the UK [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":38746,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1620],"tags":[],"class_list":["post-38698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/posts\/38698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/comments?post=38698"}],"version-history":[{"count":8,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/posts\/38698\/revisions"}],"predecessor-version":[{"id":38766,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/posts\/38698\/revisions\/38766"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/media\/38746"}],"wp:attachment":[{"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/media?parent=38698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/categories?post=38698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uwejournalism.net\/bowernews\/wp-json\/wp\/v2\/tags?post=38698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}