Care homes need £2.9bn to avert crisis, charities warn

Local authorities and industry experts have warned that up to 50% of care homes are expected to close unless the Chancellor throws them a lifeline. The loss of care homes is expected to force elderly residents to rely on the NHS, which will struggle to find resources. Fifteen social care and older people's groups have urged George Osborne to find a way to meet the £2.9bn spending gap by 2020. Care home operators, such as Guy Hands's Four Seasons, are struggling under the weight of falling public sector income, huge debts and rising costs. Thousands of vulnerable elderly people face being uprooted if Britain's largest operator with 20,000 residents in 470 care homes goes under. Staff costs are also set to spiral next year with the living wage being introduced in April.


Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

Other Articles

When you’re an established business, recruiting top talent in all the areas you need can seem like a never-ending challenge.


If you’re a start-up or small business, how can you put together an attractive employee package to appeal to top talent – graduate and…


Mexico is predicted to become one of the world’s top 10 economies in the next 10 or 20 years.

Stop fraud

More than one million incidents of financial fraud occurred in the first six months of 2016, according to official figures released by…

Santander’s Head of SME International Mark Collings discusses why exporting to new global markets may provide businesses with new and…

Where Next?