Retirees who receive care and their families could be facing significant cost rises over the coming months because of Rachel Reeves Budget proposals.
Not only has the headline rate of employer's National Insurance (NIC) increased to 15%, but the starting point at which NIC is payable has fallen significantly too from £9,100 to £5,000.
As staff costs will be one of the biggest costs faced by any care home and as care requirements mean they have little opportunity to reduce their staffing levels, the reality is that the pensioners living in these homes and their families must prepare for a significant increase in the fees that they pay.
Self-employed carers may also raise their prices in response to the NMW increase, or due to the rise in NMW causing an increase in the cost of goods and services in some sectors.
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