GMB protest targets Southern Cross landlord

Posted on February 1st, by editor in Caring Times. No Comments

A public protest organised by the GMB Union to highlight the role of the Qatari Investment Authority (QIA) as a landlord to corporate care provider Southern Cross was held outside the QIA-owned Harrods in London on March 3.
Southern Cross has reported a 65% drop in pre-tax earnings for the first three months of its financial year as a consequence of a 14% decline in local authority placements. The Financial Times has reported that the company’s net debt nearly tripled to £21.4m in the same period.
GMB general secretary Paul Kenny said his union wanted the QIA to meet a delegation of residents, their relatives and staff from Southern Cross care homes.
“The QIA raised £1,110 million in bonds to buy 300 care homes from the private equity company Blackstones in 2006,” said Mr Kenny.
“Rents are being overcharged to the tune of £60 per week per care home

Comments are closed.

Latest blog posts

A weary sense of deja vu

By Caring Times editor GEOFF HODGSON

So we are to be favoured with a Green Paper sometime next summer.

Theresa May’s insistence on the importance of an...

It’s a hard, hard world

By Caring Times editor GEOFF HODGSON

A recent survey has found that 63% of the general public believe the NHS provides social care and 42% think...

Sign-up and pay, or perhaps pay more

By Caring Times editor GEOFF HODGSON

There are powerful arguments why carers working at night in small specialist care facilities should be paid their full hourly...