Publish date: 23 April 2025
A message from Trish Bennett, Chief Executive Officer and Rob Collins, Chief Finance Officer on our Financial Plan.
As you will be aware, over the next two years, NHS England and its functions will be transferred to the Department of Health and Social Care. This move aims to streamline decision making, make the best possible use of taxpayers’ money and empower staff to deliver better patient care. Additionally, there are plans to reduce the size of Integrated Care Boards and halve their running costs by the end the year.
National planning guidance for NHS Trusts and Integrated Care Boards was released by NHS England on 30 January and has set out challenging efficiency targets that must now be responded to at pace.
Since the release of planning guidance the Executive Team and wider Trust senior leadership team have been considering the Trust response and have now identified a high level set of plans that will be tested across all teams as full plans are developed over coming weeks.
We have a proven track record of managing our finances while maintaining high levels of quality, safety and patient experience and will continue our journey and delivery of our operational plan.
Initial plans reflect changes across the entire £750m operating budget, working with a reduced executive director cost, a review of our Trust Wide Support Service cost, reducing duplication, reviewing administration and operational management structures, a clinical services review and improving our skills and use of digital technology. In addition, from 1 May 2025 we will implement a series of financial controls to manage our collective spend, these include:
- Removing the use of agency and bank staffing for non clinical roles
- Tightened vacancy approval process aligned to our cost improvement change programmes
- Limited non patient facing external room hire, hospitality and venue hire for events
- Reducing delegated budget approval limits.
In this changing and evolving environment, we will adapt and work together on our plans. We understand that change can be worrying and creates uncertainty, but we will make sure you are well supported, engaged and provide opportunities for you to help shape our future plans. Our wellbeing offer is available if you need any support and we have developed an area on YourSpace as a central information resource, alongside regular updates in staff newsletters and YourBrief sessions.
We need your help to identify additional opportunities where we can enhance efficiency, best practice and innovation, and maintain an environment where you feel included and supported. If you have any ideas that you would like to share or questions about our financial plan, please submit them using this form.
By working together and using your skills and expertise, we can create meaningful improvements that add value without adding pressure and continue to focus on delivering the highest standards of care and support for our patients, service users and carers.
Thank you for your continued hard work and support.