In the Herald today:
CARE home residents are facing monthly fee rises of up to £240 this year with private providers citing Covid-related costs and “Brexit uncertainty” for inflation-busting increases.
Some facts to consider when reacting to this:
45.2% of the 275 privately-owned homes had an outbreak compared to 27.9% of the 41 local authority and 12.5% of the 32 voluntary homes. 90% of the largest 46 homes, with more than 90 residents, had outbreaks. That all of these are owned by large corporations is not reported in the data but given what we know about the demand for profit margins and economies of scale in that sector we can be sure that they are.
Complaints about standards of care:
In the last year, to March 31 2020, there were 158 complaints about voluntary sector homes, 2040 about private homes and 146 about local authority homes.
There are thus 2.5 times as many private as voluntary homes but the level of complaints is 13 times higher.
There are 3.1 times as many private as local authority homes but the level of complaints is 14 times higher.
So, the level of complaints to private homes, taking account of the number there are, is around 4 times higher than in voluntary sector or local authority care homes for the elderly.
Avoiding tax yet relying on NHS for PPE and support staff:
Although HC-One has declared a loss in every year except one since its creation in 2011, investors received cash dividends of £42.3m in 2017 and £6.2m in 2018. HC-One has paid no corporation tax in that time, but instead received net tax credits of £6.5m since its reorganisation in 2014. The group’s auditors are infamous offshore tax-avoidance experts Deloitte. HC-One’s structure “means investors and executives are likely to have received much greater sums as only one subsidiary, FC Skyfall Upper Midco Ltd, files consolidated accounts”. Court Cavendish, owned by Dr Chai Patel (90%) and his family trust (10%), has received £25m in management fees.
The company was put up for sale in May 2018 for £1 billion. Its immediate owner is Libra Intermediate, based in Jersey and the ultimate owner is FC Skyfall LP, based in the Cayman Islands. It has a complex corporate structure, with 50 companies, six of which are registered offshore either in the Cayman Islands or Jersey and a further five in the UK as foreign entities. Earnings before interest, tax, depreciation and amortisation were about £130 million in 2017.
There’s more: https://talkingupscotlandtwo.com/?s=care