NHS: Capital Investment
(asked on 13th January 2025) - View Source
Question to the Department of Health and Social Care:
To ask His Majesty's Government which NHS providers accounted for the largest proportion of the £7.5 billion impairment in its Public Dividend Capital investments in 2023–24 outlined on page 240 of the Department of Health and Social Care’s Annual Report and Accounts 2023–24, published on 17 December 2024; and what were the individual values of those impairments.
Public Dividend Capital (PDC) is impaired, on an individual National Health Service provider basis, where the net assets of those NHS providers fall below the level of PDC issued to that trust or foundation trust, irrespective of whether subsequent PDC write-offs are likely to occur. The following table shows the NHS providers that accounted for the largest proportion of the £7.5 billion impairment in 2023/24, along with their respective values:
NHS provider name | Impairment value |
Barts Health NHS Trust | £621,000,000 |
Barking, Havering and Redbridge University Hospitals NHS Trust | £298,000,000 |
Manchester University NHS Foundation Trust | £289,000,000 |
University Hospitals of Derby and Burton NHS Foundation Trust | £282,000,000 |
University Hospitals Coventry and Warwickshire NHS Trust | £260,000,000 |
University Hospitals Birmingham NHS Foundation Trust | £248,000,000 |
Norfolk and Norwich University Hospitals NHS Foundation Trust | £238,000,000 |
University Hospitals of North Midlands NHS Trust | £234,000,000 |
King's College Hospital NHS Foundation Trust | £216,000,000 |
Mersey and West Lancashire Teaching Hospitals NHS Trust | £212,000,000 |
University Hospitals Sussex NHS Foundation Trust | £203,000,000 |
South Tees Hospitals NHS Foundation Trust | £201,000,000 |
North West Anglia NHS Foundation Trust | £196,000,000 |
Mid Yorkshire Teaching NHS Trust | £187,000,000 |
St George's University Hospitals NHS Foundation Trust | £180,000,000 |
North Bristol NHS Trust | £176,000,000 |
East Lancashire Hospitals NHS Trust | £175,000,000 |
Worcestershire Acute Hospitals NHS Trust | £172,000,000 |
Portsmouth Hospitals University NHS Trust | £158,000,000 |
East Kent Hospitals University NHS Foundation Trust | £145,000,000 |
Sherwood Forest Hospitals NHS Foundation Trust | £131,000,000 |
Maidstone and Tunbridge Wells NHS Trust | £129,000,000 |
Leeds Teaching Hospitals NHS Trust | £126,000,000 |
Cumbria, Northumberland, Tyne and Wear NHS Foundation Trust | £105,000,000 |
A change in the accounting treatment for measuring Private Finance Initiative lease liabilities under International Financial Reporting Standards 16 Leases has partly contributed to the increase in the value of the impairments reported in the Department’s 2023/24 accounts.