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Contractors will be ‘uncomfortable’ with funding delays

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Umesh Modi doubts contractors will rush to make the most of the delay

Pharmacy owners in England will “not feel comfortable” with the delays to the funding cut in England, a finance expert has told C+D.

Pharmacy minister David Mowat announced last week (September 5) that the delay to the planned £170 million cut to funding – originally scheduled for October – was the “right decision”.

Umesh Modi, a partner at accountancy firm Silver Levene, told C+D that although the news is a “welcome reprieve”, he doubted pharmacy owners would rush to make the most of the delay.

“I do not think contractors will go out and recruit more staff or invest in their business, due to continued uncertainty. Why would they?” Mr Modi said last week (September 6).

“What if the outcome of further deliberations over the next few months is worse than what was [initially] proposed?”

Two days after his initial funding announcement, Mr Mowat told a Pharmaceutical Services Negotiating Committee (PSNC) meeting that pharmacy is unlikely to avoid taking on its “share” of the £20 billion in savings required across the NHS.

 

Result

What action is your pharmacy taking now the funding cut has been delayed?
No action
22%
Investing in the business again
4%
Continuing to make savings in case the funding drop is confirmed
74%
Total votes: 172
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