On Wednesday, Jackie Baillie MSP and Depute Branch Manager asked this parliamentary question:
To ask the Scottish Government what plans are in place to ensure that every residential care home is provided with adequate personal protective equipment so that staff can continue to provide care to their vulnerable and at-risk residents.
Jeane Freeman: A holding answer was provided.
Perhaps I can save everyone some time here. Ms Baillie, ask the care home owners! See if they have any plans given the huge profit margins they have. See this:
Care home operators are making up to £1.5bn a year in profits with hundreds of millions of pounds going to offshore investors, a think tank has discovered. Many of the firms that provide most of the UK’s 465,000 care home beds are owned or backed by hedge funds, while some of the biggest are based in overseas tax havens. Many of the firms that provide most of the UK’s 465,000 care home beds are owned or backed by hedge funds. For small and medium-sized operators, £7 out of every £100 they receive in fees goes into profit before tax, rent payments, directors’ remuneration and net interest payments, the CHPI found. However, for the 18 largest profit-driven firms, it is £15 per £100. The report claimed that firms use an array of financial mechanisms to boost their profit margins. Debt repayments can be “a source of hidden profits and tax avoidance”, it added.
For example, the three directors Care UK of shared £1.7 million in 2017 alone: