Peterborough City Hospital will have to make efficiency savings after it is set to pay more than £4 million in business rates in the past year - with the bill set to rise even further. Only three hospitals across the country are due to pay more in tax than Peterborough in 2018-2019.
Chief Executive, Stephen Graves, said: “Peterborough City Hospital saw an increase in business rates of £1.2 million in 2017/18 which amounted to an increase of 43 per cent to £3.9 million.
“For the 2018/19 year, the Trust has seen a further increase of £900,000, across its three hospital sites.
“The latest increase equates to a 22 per cent rise to £5.15m. The Trust will now need to deliver efficiencies, in excess of those already planned, to ensure that we can achieve our financial control total for 2018/19”.”
Peterborough City Hospital will have to cough up £4.5 million, Southmead Hospital will have a tax bill of £5.9 million, University Hospital Birmingham NHS Trust will pay £7 million, while the biggest bill will go to The Royal London Hospital, which will pay £9 million.