The Queen Elizabeth Hospital would not achieve foundation trust status if it applied for it today, MPs have been told.
David Bennett, chief executive of regulator Monitor, claimed 11 trusts, including the King's Lynn hospital, are in serious financial difficulties and would not achieve the standard of excellence if assessed now.
He also told the Public Accounts Committee this afternoon that he believes the trusts are in serious breach of the terms of their authorisation.
Another East Anglia trust mentioned by Mr Bennett was the Peterborough and Stamford Hospitals NHS Foundation Trust.
Mr Bennett said the trust is in significant financial difficulties because of a costly private finance initiative (PFI).
A further 13 foundation trusts are also being scrutinised by the regulator because of their finances, Mr Bennett continued.
Monitor raised concerns about the trusts after viewing their annual financial plans. Mr Bennett added if the trusts cannot afford the repayments, the bill will fall to the taxpayer.
*Read tomorrow's EDP for full reaction following Mr Bennett's announcement
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