Who cares? Financialisation in social care

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A growing reliance on private provision could mean lower quality care. There are a number of potential linkages between ownership and quality.

We need to be bold and arrest the growth of debt-fuelled private providers in social care. IPPR
calls for a bold set of policy interventions to arrest the growth of
debt-fuelled private social care provision and oversee the existing
sector.

  1. the creation of a powerful national financial care
    regulator – OfCare – to oversee the financial regulation of systemically
    important care providers
  2.    

  3. a new requirement that ensures all state-funded
    providers of care maintain a ‘safe’ level of reserves and demonstrate
    they are paying their fair share of tax in the UK
  4.    

  5. a commitment by government to build the 75,000 beds needed to by 2030 through borrowing worth £7.5 billion
  6.    

  7. the care for these homes should either be provided
    by the state or by innovative not-for-profit providers, building on the
    success of the ‘Preston Model’.

Who cares? Financialisation in social care

Published by Residential Forum

The Residential Forum is to promote the achievement of high standards of care and support for children and adults living in residential care and nursing homes, supported housing, residential schools and colleges, hospices and hostels. It contributes to improving the quality of service to the public. Members of the Forum are people of standing and experience drawn from the public, private and voluntary sectors, as well as some who can speak for service users and carers.

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