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Thursday 27th October 2016

London NHS debt to be wiped out

8th December 2008

Health managers have said they plan to "wipe out" debts of millions of pounds in proposals aimed at bailing out the health service.


NHS London have warned that London's healthcare debt will rise to £579 million by 2011 unless it was tackled before then.

The new proposals suggest that primary care trusts join together to make investments over the next couple of years in order to generate £275 million.

They trusts will give up a "funding pot" of £304 million in order to wipe the debts of those trusts which are not performing well.

NHS London said the proposals would provide: "a debt-free sustainable health service able to deliver high quality care for all Londoners."

Although the financial status of the health service in London has recently picked up, with many trusts getting out of the red, six hospital trusts are said to be "financially challenged".

Five more trusts are not thought to be able to clear their debts until 2011.

Paul Baumann, finance director at NHS London, said: "PCTs should be congratulated for taking this bold and decisive action."

The 11 hospital trusts whose finances have been earmarked are Bromley; Queen Elizabeth Hospital; Queen Mary's Sidcup; Lewisham; Barking, Havering and Redbridge Hospitals; Whipps Cross; St George's; Barnet and Chase Farm; North West London; West Middlesex, and Newham. The PCT is Hillingdon.


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