Scottish Government’s second bail out as NHS Fife faces £11m black hole finances

It’s the second year in a row that the local health board has required a brokerage repayment loan to break even.

It was a tough financial year for NHS Fife. Even after receiving £10.2 million in additional money from the UK’s HM Treasury, the board couldn’t balance its books.

Staring at an £11 million blackhole, the board was forced to ask the Scottish Government for a loan.

“For the second consecutive year, we were required to request Scottish Government repayable brokerage to balance our position which will be £11 million to deliver the target of breakeven,” a report from Margo McGurk, NHS Fife’s director of finance and strategy, stated.

“Without this repayable brokerage the target would not have been achieved.”

Considering NHS Fife’s previous brokerage loan, the decision has left the board £20.8 million in debt to the Scottish Government - which the board will be required to factor into future budgets.