Bullshit. Only because some shareholder somewhere said it must be so. It doesn’t cost £320,000 to house a child for a year.
chilinachochips on
And then the government wants people to have more kids. I remember a meme on this topic like “Having kids in this economy? No way”. It’s too sad that memes and jokes come true nowadays
bigarsebiscuit on
I know someone who worked at one of these places. It was run by a local individual’s small business. Mr owner was entitled and tightfisted: slow to make repairs and necessary provisions, but quick to tell people about his holiday or extension. To think these people are making profit in the region of 60-90k per child per year is disgusting. Mr owner was personally netting 360k-540k every single year.
SubjectCraft8475 on
Is there a study of the demographic of the ethnicity of these kids.
Ive noticed a lot of white British or mixed raced kids end up in children’s homes. Ive noticed there are lots of white British women that are single mums some with multiple kids who have a different father each, there is no issue with a single mum but majority of them claim benefits such as housing benefit which costs the country money. Why isnt this prevelant with other ethnicities like south asains. Does British culture have less family values. Even when going to hospitals you see old white people woth no family visiting, while a south Asian old man has too much family visiting the nurses put in restrictions for visiting times.
Fit_Manufacturer4568 on
Cheaper to send them to Eton and you would probably get better outcomes.
unyieldingnoodle on
As it says in the article, many of these are private equity owned.
Radio 4 did a really good programme about this, one suggestion was that profits should be restricted to 9% so it wasn’t as appealing to PE. IIRC the Saudi Wealth Fund was a named investor.
They do business based on what makes money. In the simplest terms, you cannot expect people that prioritise profit in an industry like that to genuinely care about the children at the bottom of it. Their profit margin will always come first.
I don’t know much about children’s homes, but I’ve experience of care/nursing homes and they are similar: there can be huge profits for shareholders whereas the clients/residents/taxpayer are getting terrible value for the massive amount they’re spending.
MetalChaotic on
Got a ask, just how many tax payers does it take to cover this giant ripoff? seems the kids are being treated as a commodity to raise profits for dubious companies.
BobBobBobBobBobDave on
Turn public services into a private business opportunity ity and this sort of thing does happen.
Less_Mess_5803 on
It’s disgusting the amount that it costs. I’m not saying kids don’t deserve good care but this seems like a license to print money.
Weird-Statistician on
So why don’t the government just take this back in house? We’re paying money hand over fist to these businesses, which often provide a poor service at an inflated price. Same with old folks homes. Offer a decent state run alternative (can still charge those who pay for care) and pay staff well, have good conditions but make no profit. It will force prices down (or quality up) in the private sector alternatives.
Easymodelife on
Ah, the wonderful private sector doing things cheaper and more efficiently than the “bloated” public sector! Thatcher would have been proud!
Snap_Ride_Strum on
That’s what these institutions are charging. It doesn’t cost that much. In fact it doesn’t cost anywhere near that figure.
12 commenti
Bullshit. Only because some shareholder somewhere said it must be so. It doesn’t cost £320,000 to house a child for a year.
And then the government wants people to have more kids. I remember a meme on this topic like “Having kids in this economy? No way”. It’s too sad that memes and jokes come true nowadays
I know someone who worked at one of these places. It was run by a local individual’s small business. Mr owner was entitled and tightfisted: slow to make repairs and necessary provisions, but quick to tell people about his holiday or extension. To think these people are making profit in the region of 60-90k per child per year is disgusting. Mr owner was personally netting 360k-540k every single year.
Is there a study of the demographic of the ethnicity of these kids.
Ive noticed a lot of white British or mixed raced kids end up in children’s homes. Ive noticed there are lots of white British women that are single mums some with multiple kids who have a different father each, there is no issue with a single mum but majority of them claim benefits such as housing benefit which costs the country money. Why isnt this prevelant with other ethnicities like south asains. Does British culture have less family values. Even when going to hospitals you see old white people woth no family visiting, while a south Asian old man has too much family visiting the nurses put in restrictions for visiting times.
Cheaper to send them to Eton and you would probably get better outcomes.
As it says in the article, many of these are private equity owned.
Radio 4 did a really good programme about this, one suggestion was that profits should be restricted to 9% so it wasn’t as appealing to PE. IIRC the Saudi Wealth Fund was a named investor.
They do business based on what makes money. In the simplest terms, you cannot expect people that prioritise profit in an industry like that to genuinely care about the children at the bottom of it. Their profit margin will always come first.
I don’t know much about children’s homes, but I’ve experience of care/nursing homes and they are similar: there can be huge profits for shareholders whereas the clients/residents/taxpayer are getting terrible value for the massive amount they’re spending.
Got a ask, just how many tax payers does it take to cover this giant ripoff? seems the kids are being treated as a commodity to raise profits for dubious companies.
Turn public services into a private business opportunity ity and this sort of thing does happen.
It’s disgusting the amount that it costs. I’m not saying kids don’t deserve good care but this seems like a license to print money.
So why don’t the government just take this back in house? We’re paying money hand over fist to these businesses, which often provide a poor service at an inflated price. Same with old folks homes. Offer a decent state run alternative (can still charge those who pay for care) and pay staff well, have good conditions but make no profit. It will force prices down (or quality up) in the private sector alternatives.
Ah, the wonderful private sector doing things cheaper and more efficiently than the “bloated” public sector! Thatcher would have been proud!
That’s what these institutions are charging. It doesn’t cost that much. In fact it doesn’t cost anywhere near that figure.