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Birmingham City Council has signed off on a wave of cuts to services ahead of a 21% rise in council tax over two years. The largest local authority in Europe declared itself effectively bankrupt and needs to make £300m in savings. The financial measures have been described by those on the Labour-led council as "devastating". Leader John Cotton apologised "unreservedly" to people living in the city during a full meeting on Tuesday. Last September, the council said it could not afford to meet its financial obligations.