'More Older People's Housing Could Save Taxpayer £14bn'

The taxpayer could save £14.5bn over 50 years if just one couple among every 50 older homeowners downsizes into specialist retirement housing. That is the finding of a report by older people’s specialist housing association Anchor and Strategic Society Centre. The report, entitled Valuing Retirement Housing, uses a wide range of datasets to provide estimates of savings retirement housing can generate for local and central government. It estimates one extra person moving into specialised retirement housing could save £9,700 over 10 years due to fewer falls, reduced home and residential care. A couple moving into retirement housing could save the taxpayer £54,800 due to freeing up a home for first-time buyers, creating more retirement wealth for them and less reliance on housing benefit. Read more on Inside Housing.

Council Pays To End Care Home PFI Deal

Southwark Council is buying out a long-term contract with Anchor Homes, in a move that will save the council around £12m over the next 12 years, while continuing to provide the same quality of service to all care-home residents, who will continue to benefit from the new facilities brought in as part of the original deal.  In December 2000, the council arranged for Anchor to invest £12m into the rebuilding and refurbishing of four care homes in Southwark as part of a PFI deal lasting 25 years. However, in a show of partnership and co-operation, Anchor has agreed that Southwark Council can complete the repayments early, saving the authority nearly a million pounds a year in fees – around £930,000 per year - and allowing it to take on ownership of the buildings and responsibility for the repairs and maintenance.  Read more on the Southwark Council website.