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One of the UK’s leading cancer treatment centres could lose millions of pounds after the Icelandic banking system collapsed.
The Christie NHS Foundation trust, in Manchester, said it has £7.5 million with the bank Kaupthing Singer & Friedlander, which is in administration.
It said the bulk of the money – £6.5 million – had come from charity donations while the remaining £1 million had come from the NHS.
The deposited funds had been put aside to fund research and service improvements over the next five years, the trust said.
Dr Chris Harrison, The Christie’s medical director, said: “The things that we are concerned about are future developments into research.
“The hospital is continuing to run, patients are continuing to be treated and new developments such as the radiotherapy centre will continue.
“What we are concerned about is moving on to the next step and later research, perhaps with the university of Manchester.
“It is possible that if we do not get the money back we won’t be able to carry out the research that will lead to drug development for the future.”
However, hospital officials insisted that short-term development at the trust would be unaffected by the investment.
Copyright PA Business 2008
