Why Are Cities Going Bankrupt?

Explore the financial crisis facing British local governments in this one-hour lecture by Professor Martin Daunton at Gresham College. Examine how cities have declined from the civic pride and municipal enterprise of Joseph Chamberlain's Birmingham to the near-bankruptcy situations faced by major councils today. The lecture traces the historical evolution of local government financing from the Victorian era through various reforms, including the controversial Poll Tax and current Council Tax system. Learn about the inequities in taxation, borrowing risks, and the changing relationship between central and local governments that have contributed to this decline. Professor Daunton, Emeritus Professor of Economic History at Cambridge University, concludes with potential solutions to regenerate British towns and cities and restore their financial stability and civic confidence.