04/08/2016
A recent study has claimed that the UK economy could be boosted by up to £5bn a year if those who are forced out of work to care for loved ones can be helped back in.
Information gathered from the last census suggests that as many as six million people are undertaking unpaid care work for loved ones. This figure includes more than 20% of those in their 50’s or early 60’s. More than a third of carers need to spend more than 20 hours a week doing it.
The charities Age UK and Carers UK raised their concerns of this situation by suggesting that those dedicating their time to caring could not expect to be promoted easily and would obviously have a lower earning potential.
The report calculated that the potential losses in government revenue from taxes amount to around £1.3bn. The true cost is likely to be much higher due to the figures only applying to England.
Caroline Abrahams, director of Age UK, said: “The army of unpaid carers in this country do an outstanding job but, as our analysis shows, we are simply asking them to sacrifice too much.
"Many feel forced to give up their own paid work, finding the juggling too much to bear on top of the strain of looking after someone they love.
“But when they do stop working the financial loss they incur is huge and often has consequences for the rest of their lives.
“It is morally wrong that people who do the right thing by becoming a carer should so seriously undermine their own financial security as a result.”
Heléna Herklots, chief executive of Carers UK said: “Even a few hours caring a week can result in having to cut down hours or give up work, bringing devastating and irreversible consequences for long term financial security.
“Carers tell us this is mainly due to the difficulty and exhaustion of juggling work and family responsibilities without the right support from local care services and employers.”
