hristine Lagarde taking the ECBs helm recently, financial publications we read regularly suggest her public communication will come under scrutiny/www.telegraph.co.uk/money/fisher-investments-uk/should-investors-follow-central-banks-advice/?WT.mc_id=tmgspk_plrnlr_2866_At9d8k183w1S&utm_source=tmgspk&utm_medium=plrnlr&utm_content=2866&utm_campaign=tmgspk_plrnlr_2866_At9d8k183w1S&plr=1&mvpf=88cac5ad91614fea88712d7337420803&mvpflabel=hristine Lagarde taking the ECBs helm recently, financial publications we read regularly suggest her public communication will come under scrutiny/www.telegraph.co.uk/money/fisher-investments-uk/should-investors-follow-central-banks-advice/?WT.mc_id=tmgspk_plrnlr_2866_At9d8k183w1S&utm_source=tmgspk&utm_medium=plrnlr&utm_content=2866&utm_campaign=tmgspk_plrnlr_2866_At9d8k183w1S&plr=1&mvpf=88cac5ad91614fea88712d7337420803&mvpflabel=
Why care homes and families face a 'ticking time bomb' Plus: why buy-to-let investors are preparing to swoop in on bargains
Telegraph Money The week's most important personal finance news, analysis and expert advice, from pensions and property to investment ideas and savings tips.
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Cost of coronavirus on care homes will be enormous | | By Marianna Hunt, Personal finance reporter |
| Families with relatives in care face an excruciating situation. Separated from their loved ones, all they can do is sit at home listening to fresh reports of coronavirus ripping through another care home, claiming lives as it goes. Many have already had relatives taken from them and care home operators have said the virus will spread 'like wildfire'. Families, many of whom are already struggling to cover the exorbitant cost of care, will also be paying the price further down the line. One care home said its costs had increased seven-fold as a result of the pandemic and others told Telegraph Money they would either have to hike their fees further or risk going bust. The problem is that, with the average cost of care already standing at 27,000 to 39,000 a year, any further increases could push people over the edge. One Telegraph reader whose father recently died of coronavirus said had he lived another year he would have been forced to sell his home. Even before coronavirus, the social care sector was in crisis but families desperately waiting for the Government to deliver on its promise to provide a solution will likely have to wait longer as the country tries to recover from the pandemic. Those with elderly relatives living outside of a care home have not been immune to the crisis either. Demand for at-home carers is enormous and many are struggling to get support for vulnerable loved ones. Vulnerable people should be entitled to priority delivery slots – however thousands are at risk of going hungry as supermarkets admit they simply do not have the capacity to cope. If you have been affected by the coronavirus care crisis get in touch by emailing [email protected]. In the meantime, even if you can't visit the people who care about, there are always ways to remind them they are not alone. Care doesn't have to cost a penny. If you are worried and need further help or advice, you can always find more on Telegraph Money. Subscribe now and try your first month for free. | | |
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Here's what our readers said In our comments section, Robert Mckenzie said of You might end up richer as a result of coronavirus. Consider helping those who won't: "I am one of the lucky ones you describe. I’d love to donate a sizeable part of my cash but the Government may impose a one-off windfall tax on people like me in the future. If I donate now I couldn’t afford to pay a tax hit further down the line. If you convince me the Government won’t want the same cash for themselves, then I’m in." Join the conversation here. | |
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