William Eichler 16 May 2018

Blackpool considers lending £27.1m to NHS Trust

Blackpool Council has proposed loaning a local NHS trust over £27m to help the health body invest in frontline services.

The local authority is considering a £27.1m loan to help Blackpool Teaching Hospitals NHS Foundation Trust restructure its debt.

The council’s Business Loans Fund argued this loan would free the Trust up to invest in frontline services.

The Trust would repay the loan over a 25-year period.

In February 2017, Blackpool Council agreed an increase to its Business Loans Fund from £10m to £100m.

Its first loan after this decision was £9,230,000 to the Trust. The aim was to improve its transformation programme and bolster its working capital.

In total, the Business Loans Fund has paid out £60m to support local businesses.

‘As a council, we have the ability to borrow money at a lower interest rate than others, which can then be lent out to support companies to build, grow and hire,’ said council leader Simon Blackburn.

‘These loans will not only help companies to expand, but the repayments will help support our own budget and maintain our services.

‘This proposal is to assist Blackpool Teaching Hospitals NHS Foundation Trust to restructure its debt which will in turn enable them to invest in front-line services.’

What’s happening inside the LGPS? image

What’s happening inside the LGPS?

Get the most informed take on the challenges and opportunities that substantial reform will bring at this year’s PLSA Local Authority Conference.
SIGN UP
For your free daily news bulletin
Highways jobs

Registered Building Inspector (Band 2/Grade 7)

Health and Safety Executive
£60,760 - £65,776
The Building Safety Regulator (BSR) is transforming building safety regulation across England. United Kingdom / various Locations
Recuriter: Health and Safety Executive

Revenues and Recovery Team Leader

Ashfield District Council
£37,938 - £40,476 per annum (pay award pending)
We have an exciting opportunity for a Revenues and Recovery Team Leader Sutton-In-Ashfield, Nottinghamshire
Recuriter: Ashfield District Council

Housing Options Officer

Ashfield District Council
£31,067 - £33,366 per annum (pay award pending)
Do you want to make a real difference to the lives of residents in housing need? Sutton-In-Ashfield, Nottinghamshire
Recuriter: Ashfield District Council

Building Services Operative

Ashfield District Council
£25,584 - £27,269 per annum (pay award pending)
The Facilities team are looking to recruit an enthusiastic individual Sutton-In-Ashfield, Nottinghamshire
Recuriter: Ashfield District Council

Street Cleansing Technician (CDC)

City Of Doncaster Council
Grade 5, £24,397 per annum (pay award pending)
Do you enjoy working outside, as part of a team that make a direct difference to the communities of Doncaster? Doncaster, South Yorkshire
Recuriter: City Of Doncaster Council
Linkedin Banner