Speaking as the independent regulator reported the trusts generated a£75m surplus in the first nine months of 2006-07, he said: 'Monitor believes that these results... further highlight the merits of the foundation trust system which gives autonomy, and therefore greater responsibility, to boards.'
The surplus compares favourably with the£13m forecast surplus for the rest of the NHS this year. Eight foundation trusts achieved a financial rating of either four or five, the two highest scores, and a green governance rating.
But two foundation trusts - Moorfields Eye Hospital, and Peterborough and Stamford - have been given a red governance rating. A Monitor spokesman said that Peterborough was 'a cause for concern' after a 'number of breaches of the six-month waiting target' and that Moorfields had missed three 'priority one' governance targets.