The UK care home sector is faced with an unsustainable £1bn funding gap, the Competition and Markets Authority has warned. This has led to care homes propping up their finances by charging higher prices to those who pay for their own care, with average self-funders’ fees (£44,000 per year) around 40% higher than those paid by councils.
The watchdog also warned that uncertainty about future funding means more care homes are closing and there is not enough investment in new accommodation for council-funded residents.
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