Health Secretary Wes Streeting has unveiled plans to link the pay of NHS trust chief executives to their performance in a move announced on [date of announcement].

This decision marks a significant shift from previous systems where executive pay was primarily determined by the organization's financial turnover.

The announcement will be formalized in a speech scheduled for later this week.

Streeting emphasized the need to attract top talent to the NHS while eliminating 'rewards for failure.' The initiative underscores the government's commitment to make sure every expenditure benefits patient care and curbs excessive spending.

The changes will affect Very Senior Managers (VSMs) like trust chief executives.

A new pay framework, to be published by April 2025, will reward high-performing leaders and address poor performance.

The Department of Health and Social Care highlighted in their news release the findings of a review by Lord Ara Darzi, which stressed the absence of considerations like the quality of care and organizational effectiveness in setting executive pay.

With NHS deficits nearing £2bn within four months of the financial year, addressing financial mismanagement is imperative.

This reform is part of a broader strategy to ensure efficiency and accountability in the NHS, tackling issues brought up in recent financial audits.