Stop digging. In a recent study it was found that councils had taken a huge cut in central government funding, and when you look at Birmingham specific, they’d also taken a huge hit because of Brexit as they had something like 40% exports to that area.
All you have to do is go and find the detail, it’s all there, free on t’internet.
And this is only being realised now? Why didn't they make drastic changes? If I lost 40% of my income, i'd downsize my house, stop all luxuries and look at all options to grow my income back to where it was.