Review of the current capital allocation methodology for system envelopes

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The NHS has recently moved to a model of system-level operational capital envelopes with the aim of improving value for money and speeding up emergency finance approvals.

These reforms have generally been welcomed; but as the allocation methodology has become a more permanent feature of the NHS financial framework, this independent report was commissioned from Richard Murray by NHS England and NHS Improvement to ensure it is fair and robust for future years.