Peterborough City Hospital's £46m government 'bailout'

The hospital is paying off its PFI debt at a rate of £3m per month

Related Stories

The trust which runs Peterborough City Hospital has been given £46m by the government to help with its daily running costs.

The money from the Department of Health is to cover costs until the end of the financial year.

Peterborough and Stamford Hospitals NHS Foundation Trust's debt has risen to more than £56m.

Peterborough City Hospital opened in 2010 and was funded by a Private Finance Initiative (PFI).

The £46m is in addition to a government bailout for hospital trusts struggling to pay PFI debts, which was announced on 3 February.

It costs the trust £3m a month to pay back its PFI debt.

Peter Reading, interim chief executive of Peterborough and Stamford Hospitals NHS Foundation Trust, said it is "extremely positive news for the trust."

He added: "In the last month we have succeeded in two objectives - receiving an acknowledgement by the Treasury that there are some trusts with unaffordable PFI payments, and receiving the short-term funding that we required."

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

BBC Cambridgeshire

Weather

Cambridge

Min. Night 10 °C

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.