This new report reveals that UK care homes shift profits offshore while charging thousands of residents £200 in daily fees. Ownership through tax havens enables the more than 60 care homes to report losses in the UK while foreign investors make a killing in a sector subsidised by public spending. COVID-related deaths in UK care homes have exposed the need for major reforms which must include greater financial transparency to ensure that care is prioritised over profit.
CICTAR provided the CEO of Sunrise Senior Living Limited with an opportunity to comment on the issues raised in this report. The following statement was provided by the company: