NHS Local Improvement Finance Trusts

Download or read book NHS Local Improvement Finance Trusts written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2006-07-04 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department of Health launched the Local Improvement Finance Trust (LIFT) in 2000 to address long-standing under-investment in primary care facilities. It is a form of Public-Private Partnership with a national joint venture, Partnerships in Health, that oversees and invests in it. The total capital value of the first tranche of buildings was £711 million and the average cost of a building was £5 million. 90% of the capital is provided by debt and the properties are owned by the LIFTCo, with income being generated by rent payments from tenants such as GPs, Primary Care Trust, pharmacies and the local authority. This report examines whether the programme has been implemented effectively.