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DBzkfFel
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Answer
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QyzVCs5I
answer has answering person
Stephen William Hammond
answer text
<p>The Department provides loans to National Health Service trusts and foundation trusts for both capital investment and to support revenue expenditure.</p><p> </p><p>Interim revenue loans are provided to NHS providers to help protect the continuity of patient services and to ensure those organisations in financial deficit or distress have time and space to develop plans for return to a sustainable financial path.</p><p> </p><p>Interest rates on loans vary based on the purpose of the loan and provider’s circumstances. The same interest rates are applied to NHS trusts and foundation trusts irrespective of region.</p><p> </p><p>National Loan Fund rates are applied to normal course of business loans which includes capital investment. For those that are in receipt of interim financial support, the interest rates charged on loans are either 1.5%, 3.5% or 6%. The 6% rate is reserved for those trusts in Financial Special Measures (FSM). However, those that deliver three months of NHS Improvement benchmarked performance while in FSM are reduced to 3.5% on further loans. Interest earned on loans by the Department is not lost to the NHS - it is channelled back into the NHS through the annual funding allocation made through the NHS England Mandate.</p><p> </p><p>The total amount of loan repayments and interest paid in London and England in each year since 2015-16 are set out below:</p><p> </p><table><tbody><tr><td colspan="3"><p>London</p></td></tr><tr><td><p> </p></td><td><p>Loan repayments</p></td><td><p>interest paid</p></td></tr><tr><td><p>2017-18</p></td><td><p>£66,731,745</p></td><td><p>£25,218,269</p></td></tr><tr><td><p>2016-17</p></td><td><p>£190,921,276</p></td><td><p>£19,100,003</p></td></tr><tr><td><p>2015-16</p></td><td><p>£275,996,532</p></td><td><p>£8,497,917</p></td></tr></tbody></table><table><tbody><tr><td colspan="3"><p>England</p></td></tr><tr><td><p> </p></td><td><p>Loan repayments</p></td><td><p>interest paid</p></td></tr><tr><td><p>2017-18</p></td><td><p>£204,785,254</p></td><td><p>£90,458,829</p></td></tr><tr><td><p>2016-17</p></td><td><p>£641,465,713</p></td><td><p>£63,883,250</p></td></tr><tr><td><p>2015-16</p></td><td><p>£816,627,333</p></td><td><p>£32,722,964</p></td></tr></tbody></table><p> </p><p> </p><p> </p>
answer given date
answer has answering body
Department of Health and Social Care
written answer has answering body
Department of Health and Social Care
Department of Health and Social Care
answering body has written answer
DBzkfFel
answering body has answer
DBzkfFel
QyzVCs5I
question has answer
DBzkfFel
Stephen William Hammond
answering person has answer
DBzkfFel