So my understanding is that NHS trust debt HASN’T been written off

It has been converted to Public Dividend Capital, which has a higher interest rate of 3.5%

I hear Trust finance directors not happy. Not quite what the headlines are saying is it?

I mean that’s just what I’m hearing, please correct me if I’m wrong if you are more knowledgable

HSJ describes it as:

‘PDC is treated as a kind of equity investment in indebted trusts, but with an annual charge attached’

Take from that what you will

ITs complicated; I’ve had a good explainer. Will update after my daily exercise

UPDATE

See explainer thread here:

https://twitter.com/roshanamn/status/1246371564691562501?s=21 https://twitter.com/roshanamn/status/1246371564691562501