Blog > New trusts are facing the worst financial crisis in a 'generation'
NHS in Crisis
A recent announcement by NHS trusts in England has stated that the health service is currently facing it's biggest financial crisis in its history.
New figures from NHS regulators have shown a deficit of £1.6billion with projections that the figure will increase to £2.2billion by the end of the financial year.
Director of policy at The King's Fund, Richard Murray, said, "Today's figures show the NHS is in the grip of an unprecedented financial meltdown. Deficits on this scale cannot be attributated to mismanagement or inefficiency. Quite simply, it is no longer possible for the vast majority of NHS providers to maintain standards of care and balance their budgets."
The data has shown that these financial difficulties are observed in every type of NHS organisation across the country, including even the best managed hospitals.
Watchdogs warn that the NHS is in the worst financial position "in a generation".
In the first half of the 2014/15 year, the deficit for all NHS trusts was £621million, compared to a deficit of £1.6billion during the same period this year.
Furthermore, figures for the first quarter of this year showed an overspend of £930million, which is more than the entire overspend for the previous year which reached £820million.
Experts predict that widespread cuts to service due to the financial crisis could lead to lengthening waiting times and increased rationing of care.
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