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Funding shortfall may force UK care homes to close, says watchdog

The UK care home market is grappling with an unsustainable £1bn-a-year funding gap that could spark a string of closures across the country, the competition watchdog has warned.

The Competition and Markets Authority (CMA) said resident fees paid by councils failed to meet care home costs, causing a significant shortfall and ramping up prices for those paying for private care.

It said fees of private care home residents were 40% higher on average than the amount paid by councils – the equivalent of £12,000 a year.

As part of the investigation, the CMA said it might take a number of care homes to court in a clampdown on those charging families for “extended periods” after a resident had died, or demanding unfair upfront fees.

Read more in The Guardian.

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