NHS: Finance

(asked on 23rd November 2017) - View Source

Question to the Department of Health and Social Care:

To ask the Secretary of State for Health, how much has been borrowed under the Distressed Cash Regime in total for each month of the last 12 months.


Answered by
Philip Dunne Portrait
Philip Dunne
This question was answered on 29th November 2017

93 trusts drew down a loan or a number of loans under the distressed cash regime over the past 12 months.

The total value borrowed over the period was £3.7 billion. The capital element was £217 million and the remainder was used for running costs.

The following table shows the amount borrowed under the Distressed Cash Regime in total for each month of the last 12 months.

Month

Amount

December 2016

£186 million

January 2017

£856 million

February 2017

£465 million

March 2017

£505 million

April 2017

£149 million

May 2017

£227 million

June 2017

£211 million

July 2017

£194 million

August 2017

£125 million

September 2017

£293 million

October 2017

£223 million

November 2017

£258 million

The interest rates attached to these loans are either 1.5%, 3.5% or 6%. The 6% rate is usually reserved for those trusts in Financial Special Measures (FSM). However, those coming out of FSM with three months of NHS Improvement benchmarked performance will no longer be charged 6% on further loans.

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