The UK's social care market is at risk of another Southern Cross-style financial meltdown, due to a lack of government oversight and shrinking council budgets, an influential group of MPs has reported.
The public accounts committee (PAC) published a report on care markets on 6 December, which revealed the Department of Health (DoH) did not monitor the financial health of large-scale providers. It also failed to check whether any provider was becoming too dominant in the market, even though some carry huge debts.
