17:07 Friday 7th June 2013
Drive BBC Radio Cambridgeshire
CHRIS MANN: Peterborough and Stamford NHS Foundation Trust has been told it’s financially unsustainable in its current form. A report from Monitor says the Trust will continue to operate at a deficit of at least £38 million each year for the next five years. It’s also been suggested they would not be able to pay its staff or buy any more medical supplies if the Department of Health does not intervene. Well let’s put this in some context. Here’s our reporter Alex Harris. Alex, tell us what’s been going on.
ALEX HARRIS: Well the new Peterborough Hospital opened three years ago, and was built with Private Finance Initiative money, in a deal signed off by Labour back in 2007. It was a decision given the go ahead by the East of England Strategic Health Authority and Trust bosses, but that decision turned out to be costly. The Trust found itself battling a multi-million pound debt, as it still is, with the failure to shift the old site of the hospital, which remains unsold. Now the Trust has received a number of Government bail-outs, which the taxpayers are paying to keep the Trust afloat. These are to the tune of £2 million a month for the next 30 years or so. Well clinicians and MPs have maintained throughout however that patients care has not suffered, but finances are a different matter, and a report that we will be seeing today compiled by Price Waterhouse Cooper says that while the Hospital is deemed clinically sound, it is financially unstable in its current form. It’s deficit has reduced, and at the end of the 2012 financial year it stood at £45 million. It’s come down to £37 million, but that deficit will continue. And for the next five years, the report says it will rack up a deficit of at least £38 million every year. But perhaps most worryingly is the long term prognosis of the Trust’s finances. The report says that without future bailouts, without more Government intervention, the Trust will not be able to pay staff salaries, and will not be able to pay for medicines.
CHRIS MANN: Alex Harris with that background report. Well let’s find out more about this. Stewart Jackson is the Conservative MP for Peterborough. Hello Stewart.
STEWART JACKSON: Good afternoon Chris.
CHRIS MANN: Talk to you in just a moment or two, but first of all, Dr Peter Reading is the Interim Chief Executive of Peterborough and Stamford NHS Trust. Hello Peter.
PETER READING: Good afternoon Chris.
CHRIS MANN: Truly frightening numbers. A massive deficit. What’s the future? Continue reading “Peterborough NHS Monitor Report – MP Meets Minister”