Review of Our Hospital Outline Business Case and funding launched
27 July 2021
Scrutiny's Future Hospital Review Panel has launched a formal review of the Outline Business Case and funding proposition for the Our Hospital Project. This follows the publication of the Outline Business Case (OBC) and anticipated lodging of the proposal for funding the project.
The review will be conducted in two phases. The first will provide a detailed expert analysis of the OBC to ensure it meets the required professional standards and provides the information needed to support the proposed cost and objectives of the Our Hospital Project. The second phase will analyse the proposals for funding the project's £804.5 million budget which are being lodged in August. The OBC outlines that the '£800 million could be funded via at least two separate public rated Sterling Bonds'.
As the review progresses, the Panel will call on members of the public and key stakeholders to provide submissions to the review.
The Future Hospital Review Panel Chair, Senator Kristina Moore, said: "The presentation of the Outline Business Case (OBC) and, in August, the proposal for funding are the next major steps in the Our Hospital Project. It is vital, given the public interest and the significant long-term impact the project and its proposed cost will have on community, that these elements receive comprehensive and robust scrutiny.
"We will also examine and seek advice on the level of borrowing that the OBC indicates will form the basis of the funding solution and whether, in all circumstances, the best way to fund this project and will not place an inappropriate burden on future generations."
