Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Unitary set to loan NHS trust £27m

  • Comment

Blackpool BC is set to loan an NHS trust £27m to enable it to restructure its debt and invest in frontline services.

A report to Blackpool’s executive committee said the council loaned Blackpool Teaching Hospitals NHS Foundation Trust £9.2m last year for its transformation programme and to “bolster its working capital”.

The loan was the first made after Blackpool increased its business loans fund from £10m to £100m in 2017-18 and was secured against the trust’s car park.

The latest loan, which is due to be considered by the executive committee on 21 May, is unsecured and issued “on the basis that all liabilities of a foundation trust are protected by the Department of Health”.

Blackpool’s business loans panel has recommended approval of the loan, with a repayment term of 25 years.

The report says a detailed assessment of the trust’s finances has not been carried out.

It added the loan would address the council’s priorities of economic growth and community resilience.

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.