Peterborough and Stamford Hospitals is the NHS Trust that spent the highest percentage (18%) of its annual income on Private Finance Initiative (PFI) charges last year.
The trust has found itself in a dire financial situation in recent times.
It has been left struggling with a £37 million annual deficit after using PFI to build the new Peterborough Hospital.
The 611-bed facility opened in November 2010 at an initial cost of £289 million. However, by the end of the 33-year life of the scheme, its total cost is expected to rise to £2bn.
As a National Audit Office (NAO) report noted, “the trust board had failed to recognise that the scheme would place considerable strains on the trust’s finances for many years to come”.