Why the NHS Capital Budget should be £16bn
NHS capital spending is going to enable the kind of transformation the service needs to get on top of its performance challenges. A compelling case can be made for boosting the NHS capital budget to around £16bn annually. Here, I present a variety of methods to estimate the need. None are perfect, but they all come to an uncannily similar number.
New hospitals should be part of our industrial strategy
Healthcare capital needn't just be about infrastructural repair. It can play a strategic role in future UK industrial strategy. The Cambridge Biomedical Campus contributes hugely to the local and national economy, showcasing the potential for the UK to replicate the economic impact from major US health systems. To reach world-class standards, we must invest capital. The good news is that these investments could become self-sustaining through innovations and industry partnerships.
What could a new PFI look like?
The Private Finance Initiative (PFI) was responsible for funding 694 projects across the UK. Initially loved by markets, hated by the left, and the doyenne of the centre, its gloss faded over time. Project failures and continuing bad publicity made it a problem for Government, while project disputes, especially in the NHS, made it unpopular with banks and investors.
And yet, calls to bring it back are increasing in volume. So how do we create a new PFI which is better than the original?