Health board predict just under £25 million deficit for next year's budget

Powys Teaching Health Board has revealed that it will be setting a deficit budget of just under £25 million for the 2024/2025 financial year.This is more than double the £12 million deficit they are predicting for this year.At a board meeting on Wednesday, March 20 members were told of the grim financial outlook while discussing their new five year integrated plan.

PTHB director of finance Pete Hopgood said: “There’s a significant financial challenge and we’re unable to deliver a balanced plan to meet the three year break even statutory duty.” He believed that the board would need to look “in year” at improving the financial situation by finding further “savings opportunities.”He wondered if this would mean the health board would need to dip into reserve budgets, borrow money or delay any building or improvement works.He explained that if the plan is agreed “strategic cash support” will be received from the Welsh Government and would cover the “fact” that PTHB’s: “outgoings will be more than our incomings.

Ms Thomas said that the level of savings in this plan is “substantial” and that it needs to “feel achievable” from the perspective of front line staff.

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