Care England has responded to an open letter sent to the Prime Minister, Chancellor, and Secretary of State for Health and Social Care by two leading health economists, which sets out the severe consequences of agreeing to higher branded drug prices as part of ongoing UK–US and UK–EU trade discussions.
According to Karl Claxton and Mark Sculpher – both Professors of Health Economics at the University of York – raising the price the NHS pays for pharmaceuticals by around £1bn could result in around 4,500 additional deaths, significantly reduce NHS capacity, worsen health inequalities, and impose at least £130m in additional annual costs on local authorities. Such a deal could also cause a £6bn loss to UK GDP – far outweighing any benefit from increased pharmaceutical investment. In contrast, investing the same funding into the NHS and adult social care would deliver the greatest possible return to the country, generating up to £20 of social and economic value for every £1 spent.
Professor Martin Green OBE, chief executive of Care England, said: “This warning from leading health economists is stark. The government risks choosing a path that will cost lives, deepen inequalities and push adult social care even further towards the brink. For £1bn, the country is being offered a deal that delivers almost nothing in return, yet carries devastating consequences for the NHS, local authorities and the people who rely on care every day. There is a better choice. Investing in adult social care offers the highest return of any area of public spending. It saves lives, strengthens communities, boosts the economy and reduces pressure on the NHS. At a time when every pound must work harder than ever to grow the economy, the case for investing in social care could not be clearer. The government must put people first and choose the option that delivers real value for the country.”
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Matt Seex, Editor
