Budget

1. Costs will rise a little. As with nearly every sector, employing people will be more expensive due to the National Insurance changes and National Living Wage increases in April. It’s expected 75% of the Employers’ NI increase will be born by relatively lower wage increases however.
2. GoodOaks’ focus on the premium, private market with our unique brand mitigates some of these risks, by focusing on quality over quantity and not being so sensitive to tight margins.
3. Local Government, who purchase a lot of social care, are having a 3.2% increase in their budget, plus another £600m specifically for social care.
4. Unpaid Carers will now be able to work up to 16 hours at the NLW while still receiving Carers’ Allowance. This potentially unlocks a new group of candidates, 70% of whom are female, who will be experienced, empathetic, and motivated.
5. No fuel duty increase – this was due to increase prices by 7p a litre, which would have had a direct impact on a large number of our care pros. Scrapping the increase reduces the cost pressure somewhat. 

In all, the Budget will raise £40bn, much going on the NHS. It doesn’t change the fundamentals of the care sector however, and now at least we have some certainty and can plan accordingly. 

I hope this helps.