The Isle of Wight NHS Trust will have more than £90m worth of debt written off by the government, in a financial reset, to help NHS Trusts cope during the coronavirus outbreak.
Health Secretary, Matt Hancock, announced earlier this month, nationally more than £13 billion of historic NHS debt will be scrapped as part of wider reforms to combat pressures Trusts are currently facing and helping become financially sustainable afterwards.
Over £90m debt wiped off
Part of the measure has wiped the debt of the Isle of Wight NHS Trust, from the end of the 2019/20 financial year — figures from the department of health and social care show £90,925,000 in interim revenue (day-to-day) debt, which includes working capital loans.
MrHancock said the NHS will get whatever it needs to face the virus.
He said:
“As we tackle this crisis, nobody in our health service should be distracted by their hospital’s past finances.
“Today’s £13.4 billion debt write off will wipe the slate clean and allow NHS hospitals to plan for the future and invest in vital services.
“I remain committed to providing the NHS with whatever it needs to tackle coronavirus, and the changes to the funding model will give the NHS immediate financial certainty to plan and deliver their emergency response.”
Steps have been underway on the Island to treat Covid-19 patients, with extra beds set up, in preparation for what may be to come.
This article is from the BBC’s LDRS (Local Democracy Reporter Service) scheme, which OnTheWight is taking part in. Some alterations and additions may be been made by OnTheWight. Ed
Image: © Used with the kind permission of Auntie P
