Financial impact assessment

Resources 03 November 2022

Financial impact assessment

Research with 13 of the largest leading providers of social care.

Research published by Cordis Bright on behalf of 13 of the largest leading providers of social care shows the culmination of sustained underfunding of social care and labour shortages which increases cost, reduces quality, creates greater market instability and is in turn exacerbated by low pay.

The report, produced by Cordis Bright, recommends that central government commit to the principle of pay parity for equivalent roles across the whole NHS and social care economy, promoting this as the minimum pay floor rate for social care staff, and fund local authorities accordingly.

Tom Noon, Chair of Cordis Bright and author of the report said:

“The pay rates for staff working in social care should be tied to the NHS Agenda For Change. This would mean most front-line care staff aligning with NHS Pay Band 3, which is currently £10.40 per hour, which is still 50p less than the UK Living Wage. Additional funding for this could be specific and targeted, with employers providing audit trail proof that additional monies have gone into the wage packets of staff.”

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