On September 5, local time, Birmingham City Council, Britain's second largest city, declared bankruptcy.。The city will stop all new spending except for statutory services such as protecting vulnerable people.。According to media reports, Birmingham City Council is facing an £87m direct budget shortfall this year, or nearly Rmb800m.。The main reasons for its bankruptcy were higher social care spending, lower corporate taxes and high inflation, which were directly related to the settlement of "equal pay" claims..£600m (equivalent to 68.400 million yuan) bill related.。