Changing how we talk and think about care could have a huge impact on our economy.
Our health and care system is often described as “under pressure” and a “burden on public finances”.
But new research commissioned by Cornwall Council shows it is not simply consuming resources – it is creating economic value at a scale that many sectors would envy.
In Cornwall alone, adult social care (ASC) generates almost £1 billion of economic activity and supports around 22,700 jobs, equating to around 6 per cent of our local economy. Including the contribution of unpaid carers, the sector supports nearly 70,000 jobs and more than £2.1 billion in economic value; and generates £3.7 billion of wider social and economic benefits annually.
For every £1 invested, society receives £2.37 through improved wellbeing, avoided NHS costs, increased productivity and better health outcomes.
No one would describe advanced manufacturing, green energy or digital technology as a “burden” if they generated that level of return. So why do we for ASC?
The answer lies in decades of thinking about care as expenditure rather than infrastructure. ASC enables older people and disabled adults to participate in communities.
It allows family carers to remain economically active, prevents demand elsewhere in the public sector, supports labour markets, sustains local businesses through supply chains, and creates jobs. Most importantly, it creates the conditions in which other parts of the economy can function.
Without social care, hospitals seize up, people leave work, communities become less productive, health inequalities widen and economic participation falls.
This clearly proves care is essential to a thriving economy, resulting in a healthier population and a more resilient society.
This has profound implications for the Casey Commission. If it focuses solely on funding pressures, workforce shortages or service reform, it will miss the bigger opportunity to show care in a completely different light, and to provide an even bigger boost to the UK’s economy.
- For the full report on the economic benefits of adult social care in Cornwall, please visit bit.ly/4gM5TP0