Peterborough: Bailout For City Hospital

1 March 2012, 12:15 | Updated: 1 March 2012, 12:27

The debt-ridden NHS trust that runs Peterborough City Hospital has been given £46 million.

The government funding will go towards the cost of running the hospital during the next year.

Peterborough and Stamford NHS Hospital trust is currently around £56 million in debt.

The trust is currently making payments to cover the cost of Peterborough City Hospital, which opened in November 2010 at a cost of £289 million.

It was funded by a Private Finance Initiative (PFI) investment of £335 million, which also paid for the Cavell Centre and City Care Centre.

Peter Reading, Interim Chief Executive of the trust said: "This is extremely positive news for the Trust. 

In the last month we have succeeded in two objectives: receiving an acknowledgement by the Treasury that there are some Trusts with unaffordable PFI payments, and receiving the short-term funding that we required."