NHS organisations are over half a billion pounds in debt, according to
figures issued today by the Department of Health.
From a budget of £66bn, net revenue overspend was £512m (+0.8%). Gross
deficit of the health organisations was £1.28bn.
However, the report, issued by acting chief executive Sir Ian Carruthers,
stated that the NHS was expected to return to ‘net financial balance’ by
But there will be some ‘exceptional cases’ where a running monthly rate
balance will not be achieved by the health organisation by the end of that
period, due to concerns over the balance having an ‘undue impact’ on patient
More than two-thirds (70%) of the deficit is concentrated across 11% of the
organisations, with the east of England’s deficit at £214m.
Big Four firms have been providing turnaround support in many NHS
organisations since the turn of the year, following KPMG’s initial assessment of
the state of NHS finances.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies