Wednesday 28 March 2007 11:14
Department of Health (National)
Nicholson: NHS financial system now fit for the future
Improved NHS financial control allows an end to Resources and Accounting Budgeting 'double whammy'
The NHS is set to move to a more transparent and fair financial regime following the announcement today of the reversal of RAB deductions and the replacement of cash brokerage with a formal system of loans for NHS Trusts.
"We are moving NHS trusts out of the resource accounting and budgeting regime as this was inconsistent and unfair. "
Suffice it to say that it was this system, now officially acknowledged to be "inconsistent and unfair" that has crippled Bedford Hospital financially.