Carenomics uses extensive evidence to outline the economic case for putting more money into the care sector.
The necessity for the government to make Social Care its priority is crystal clear.
The report makes five key points:
- Investing in social care powers up growth
- Investing in social care will help unlock the labour market and support business
- Investing in social care supports levelling up
- Investing in social care is value for money
- Investing in social care builds a purposeful economy.
The report reveals that social care makes up over 1.7m jobs in England alone, and the sector generates over £50bn for England’s economy.
The social care sector has been haemorrhaging staff for a number of years, and despite it being a critical service, four out of five UK jobs still pay more than social care work. As of August 2023, 165,000 vacancies were believed to exist in England; nearly 11% of roles in adult social care.
A lack of investment in social care equals increased avoidable hospital admissions.
A lack of investment in social care equals increased delayed discharges; people deteriorating in hospital and losing function; often then needing more help.
A lack of investment in social care equals additional pressures on already stretched NHS services.
A lack of investment in social care equals families reaching breaking points and can have devasting impacts on health, wellbeing, dignity and quality of life for people.
To read more on the blog written by Sophie Coles @c.co, please go to Carenomics: The economic case for investing more in the care sector.