Birmingham leader says key assets not up for sale

The Leader of Birmingham City Council has denied that the local authority is looking to sell off prized assets such as the National Exhibition Centre, the city’s Symphony Hall and Birmingham International Airport.

Mike Whitby acknowledged that Birmingham had been talking to foreign investors.

He said: “It is true that in Birmingham we have worked directly with investors from the Middle East, to identify funds which may be applied to projects which have stalled within the city. Our direct links have already led to considerable direct investment, such as the £190m Beorma scheme.”

Birmingham’s leader added that “as custodians of the assets of the people of Birmingham we are not in the business of selling key resources” such as the airport, the Symphony Hall and the NEC.

In common with other local authorities, Birmingham faces steep spending cuts – estimated at £330m – over the next four years.

Earlier this month, it revealed that it was reviewing terms and conditions for all of its employees in the latest stage of its cost-cutting drive. The move could see the introduction of a revised contract of employment.