FINANCE: Unison is calling for a full inquiry into why the Peterborough and Stamford Hospitals Foundation Trust board signed up to a private finance initiative scheme which has left the trust under substantial financial pressure.

The call follows the union publishing a report on the impact of PFI on hospital trusts in the East of England.

It said three major east of England hospital schemes – in Norwich, Peterborough and Chelmsford – cost £642m to build but trusts will pay at least £4.25bn by 2043 because of how the deals are structured.

Unison said Peterborough and Stamford “currently has cash to pay bills only to the end of November, and has admitted that the cost of the PFI – at more than 20 per cent of the trust’s declining budget – is unaffordable”.

The report, Pure Financial Incompetence, was authored by Dr John Lister.