Magazine article Public Finance

NHS Notches Up a Surplus of £1.67Bn despite Rising Demand

Magazine article Public Finance

NHS Notches Up a Surplus of £1.67Bn despite Rising Demand

Article excerpt

The National Health Service finished the past financial year with an above-target budget surplus of ?1.67bn, despite an increase in demand for services, an auditors' report has said.

The ?1.67bn figure applies to strategic health authorities, primary care trusts and NHS trusts. It excludes foundation trusts, which ended the year with a ?395m surplus, according to the report, published on December 16 by the Audit Commission and the National Audit Office.

The report, Financial management in the NHS: report on the NHS summarised accounts 2007/08, said: 'The NHS planned for a level of surplus to provide financial stability, ensuring that the system could absorb cost pressures that may emerge during the year.'

Andy McKeon, the commission's managing director of health, told Public Finance that NHS financial management was much improved. 'It gives a good basis for moving forward implementation of the Darzi report and the changes required there and looking a lot further forward, the undoubted pressure that there will be on public expenditure in the next Comprehensive Spending Review. …

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