BROMLEY: Trust backs hospital bail-out plan (From News Shopper)

BROMLEY: Trust backs hospital bail-out plan

9:54am Friday 12th December 2008 in

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BROMLEY Primary Care Trust (PCT) has agreed to help bail out debt-ridden trusts, including that of Farnborough’s Princess Royal University Hospital.

Financially stable PCTs throughout the capital are being asked to contribute towards a fund to pay off the debt of hospital trusts and one PCT in London.

Bromley PCT opted to sign up to the plan at a meeting yesterday (December 11), agreeing to contribute £5.5m a year for two years.

According to the new strategy’s report, Bromley Hospital Trust, which manages the Princess Royal University Hospital, could have £49m of debt written off.

Chief executive Simon Robbins said that although Bromley PCT would be paying out more than £11m, Bromley would benefit as in essence other PCTs would be stumping up the rest of the cash for Bromley’s hospital debt.

He said: “There is a huge degree of confidence that most PCTs will sign up. By the end of next week we will have a better idea.”

Chairman Elizabeth Butler said: “We have needed a solution for such a long time.

“It will be painful but I think it is the way we can fix it. We can’t get in this situation again.”