The £20million debt owed by the Royal Cornwall Hospitals Trust has been converted into a 15 year loan which will save the Trust up to £1.8m per year, ccording to Andrew George MP.
Mr George said that the Department for Health and its Trust Development Authority has agreed to reschedule Royal Cornwall Hospitals Trust debt – which currently stands at approximately £20m.
Adding: "That still leaves the Trust with an additional £7m deficit for this year and an anticipated £5.6 deficit for next year. Nevertheless the rescheduling of the debt is welcome.
“This is a welcome step forward but I shall ask the new Government to write off this debt – something which was inherited from this Trust seven Chief Executives ago. It is time for the Royal Cornwall Hospitals Trust to be able to look forward rather than back”.
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