FINANCE: University College London Hospitals Foundation Trust made a 5.6 per cent saving in 2011-12.

The central London trust’s annual plan review said: “We have delivered our key financial targets for 2011-12, and at year end achieved a Monitor financial risk rating of four [the second highest]. This included our delivery of savings exceeding 5.6 per cent of turnover.

“We are clear that we face more very challenging financial years ahead. We are preparing for extremely demanding efficiency targets over the next five years, in the order of around five to six per cent in each year. Combined with changes in the commissioning environment, this continues to be a period of enormous challenge for the trust.”