Carers Save UK £87 Billion per year

A new report published by Carers UK – authors Leeds University have recalculated the amount that carers save the economy, which is £87 billion per year. This is a rise of 52%, an increase of £30 billion, on the last figure of £57 billion, which Carers UK published in 2002.

The value of care is greater than the annual budget for the NHS ( £82 billion in 2006/7) and is more than 4 times the amount spent on social care services for adults and children by local authorities each year (£19.3 billion in 2005/6).

The figure £87 billion per year, nationally, is equivalent to:

£1.67 billion per week

£238 million per day

£9.93 million per hour

And equates to £15,260 per year for every carer in the UK

The figures have been calculated for each local authority.

We have approx 28,500 carers in Bromley.  These carers saved the local authority £251 million, based on the 2002 value.  Based on the new figure, they saved the local authority £364 million, which is an increase of £113 million, 45 %.

Carers UK has estimated that by the year 2037, the number of carers is set to increase by around 60%. and if the value of care continues to increase at this rate. 52% in only 5 years, the risks to the economy, and carers, could be significant.