We can’t leave our elderly to the market’s mercies – yet this government will not commit to averting a funding catastrophe
Southern Cross was owned by a private equity firm using care homes for exactly the kind of property speculation that underlay the banking crisis. So it might be tempting to think its demise is mainly indicative of just how catastrophic that business model turned out to be. But it’s even more a reminder of a subject we often choose to ignore: how we look after our elderly. The collapse of the UK’s largest residential care home provider is a shocking reminder that care of our elderly is in the hands of people who are in the business of care for profits – and that their business is almost as frail as the people they are looking after.