FINANCE: Monitor has launched an investigation into the deterioration of finances at Calderdale and Huddersfield Foundation Trust.

In a statement issued this week the regulator said the trust’s latest financial projections show that it could be around £4m in deficit at the end of the financial year, despite originally planning for a £3m surplus.

The investigation will “look into whether the trust’s leadership could have prevented the recent deterioration in its financial position”, the statement said.

The regulator’s regional director Paul Chandler said: “This investigation will scrutinise the trust’s finances and examine ways to effectively address these problems on behalf of local patients.

“We will also look into whether the trust’s leadership could have prevented the recent deterioration in its finances.”

Trust chief executive Owen Williams said: “We are absolutely committed to meeting our financial savings targets and have tried to achieve this whilst at the same time needing to invest in extra nursing and A&E consultant cover to ensure safety, access and quality of care for our patients.

“We have undertaken an independent review of our approach to finances and will implement the actions from this work to further assure Monitor.

“We have also submitted a re-forecast plan to Monitor in September and we are currently delivering in line with this plan.”