“The UK is facing a cost of living crisis with inflation at the highest rate for 30 years, driven by soaring energy prices and increases in basics such as food. These rising costs will impact on everyone throughout the UK, and we are particularly concerned about the impact on the already precarious position many unpaid carers face.
Caring comes with additional costs that can significantly impact their financial situation. Carers already have lower financial resilience as caring is often unpredictable and can be difficult to plan for financially. Awareness about caring is still low and not built into financial planning for the future.
Our latest findings based on a survey of over 3,300 carers currently providing care show that many are under even greater financial pressures in the face of energy prices and cost of living increases, and that they are extremely worried about how they will be able to manage their monthly expenses without extra financial support. Unless they have additional help, greater numbers of unpaid carers could be pushed into poverty that will have a lasting impact on their finances and quality of life.”