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News Release

London

JLL's Response to the Autumn Statement - Healthcare


Phil Hall, Chairman - Healthcare, Alternatives at JLL, commenting on the Chancellor’s Health and Social Care Announcements, said:

“George Osborne has promised jam today for the NHS and jam tomorrow for social care. The lack of a financially joined up approach to health and social care will in the end help neither the NHS nor social care if patients continue to block hospital beds for the lack of a place in a social care setting. 

“If all local authorities take advantage of their new found ability to raise council tax by up to 2% above the existing threshold it could raise a further £2bn by 2019/20. However, there are some big ifs and buts which lie in the way of delivering this extra sum to the patients and residents who need it. The new money may be ring fenced but presumably existing spending is not. The devil as always will be in the detail and that may take some time to emerge, but  in short the 2016/17 financial year is likely to be a very tough challenge for those social care operators focused on providing elderly care to local authority funded residents.  More defaults and restructurings are likely in the lowest fee areas. For companies able to weather the near term storm , and those focused on niche markets and the private pay sector, the outlook, in contrast is far more promising.”

-Ends