Private firms raking it in: £250m profits from vulnerable areas of England's social care system
A scathing analysis of the social care sector has revealed that private companies operating services in three regions of England are generating eye-watering profits - with more than a third of their earnings coming from firms linked to tax havens.
Over the past three years, the North East, South Yorkshire and West Midlands have collectively handed over £256m to for-profit providers offering care services such as children's homes, adult social care, and special needs provision. A staggering one-third of this sum - some £87.7 million - can be traced back to private equity firms or parent companies registered in tax havens.
Critics warn that this steady stream of profits from public funds is draining vital resources away from frontline services, instead fueling corporate greed. In reality, care workers often struggle to earn a living wage, with their average earnings sitting woefully at odds with the astronomical sums raked in by executives.
Experts argue that the complex web of financial interests behind these companies has created an unaccountable and opaque system, where public money is recklessly extracted without transparency or oversight. The consequences are stark: underfunded care systems that struggle to cope with demand, as taxpayers are forced to foot the bill for private profiteering.
The 'Ending Extraction in the UK Care System' report demands a radical rethink of how social care is funded and delivered. It calls for stricter controls on corporate profits and greater transparency around local authority spending, urging policymakers to act before it's too late.
A scathing analysis of the social care sector has revealed that private companies operating services in three regions of England are generating eye-watering profits - with more than a third of their earnings coming from firms linked to tax havens.
Over the past three years, the North East, South Yorkshire and West Midlands have collectively handed over £256m to for-profit providers offering care services such as children's homes, adult social care, and special needs provision. A staggering one-third of this sum - some £87.7 million - can be traced back to private equity firms or parent companies registered in tax havens.
Critics warn that this steady stream of profits from public funds is draining vital resources away from frontline services, instead fueling corporate greed. In reality, care workers often struggle to earn a living wage, with their average earnings sitting woefully at odds with the astronomical sums raked in by executives.
Experts argue that the complex web of financial interests behind these companies has created an unaccountable and opaque system, where public money is recklessly extracted without transparency or oversight. The consequences are stark: underfunded care systems that struggle to cope with demand, as taxpayers are forced to foot the bill for private profiteering.
The 'Ending Extraction in the UK Care System' report demands a radical rethink of how social care is funded and delivered. It calls for stricter controls on corporate profits and greater transparency around local authority spending, urging policymakers to act before it's too late.
I'm still trying to wrap my head around this one... £250m in profits from vulnerable areas? Like, what's the actual number of people being helped by all that cash? And don't even get me started on the tax havens - it's just common sense that we need to know where our money is going! 
The care workers are struggling, and it feels like the profiteers are getting richer while everyone else is left in the dark. We need some serious transparency and accountability here... or what's the point of even having a social care system? 
this is just so disheartening 
. £250m in profits from vulnerable areas? That's like, a whole lot of money that could be going towards actual care, not some private company lining their pockets 
. It's all just so... corrupt 
. Care workers are struggling to make ends meet, and yet these CEOs are raking it in? Not cool 
. We need some real change here 
, a more transparent system where public money is used for its intended purpose: helping people in need 
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. The fact that tax havens are involved just adds to the problem – it's all about hiding profits and avoiding accountability 
. Something needs to change, or our social care system will continue to be underfunded and understaffed 
.
I mean, come on! £250m profits from vulnerable areas? That's just crazy talk! 
. We need to rethink this system ASAP and make sure our care services are funded fairly and with transparency 
. My friend's sister has a child in one of these care homes and she's always complaining about the lack of funding and resources 
The fact that £87.7m goes to tax havens is just cherry-picking for profit 
Not on my watch! I think we need some serious reform ASAP 
We should be prioritizing care over profits, not the other way around 
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and I swear, it's like they're stealing the spotlight, right? I mean, who needs to worry about social care profits when you've got a cat in a tutu rocking out on the keys? Anyway, back to the topic... or rather, not. Have you guys ever noticed how some food delivery apps are just ridiculous with their prices? Like, I get it, they have costs, but £10 for a pizza is just wrong 
. How can care workers survive with such low wages? 
. The 'Ending Extraction' report hits the nail on the head - stricter controls and transparency are essential 
!
. It's all about corporate greed and lack of transparency – we need stricter controls on these companies ASAP 
we need to break free from corporate greed and put people first 
. And what exactly does the 'Ending Extraction' report propose as solutions? Concrete numbers and strategies, please! 
. It's time to take a stand and demand some accountability from those in power 
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