A major campaign seeks to reallocate FCA fines towards the UK’s ailing hospice sector.
- Over 40 MPs and Parliament peers back the initiative launched by Box Power CIC.
- More than 30 hospices face severe financial shortfalls, threatening their operations.
- £174 million in FCA fines this year highlights potential funding sources.
- Public encouraged to petition MPs in support of this vital cause.
The campaign, initiated by Box Power CIC, aims to allocate £100 million from the annual Financial Conduct Authority (FCA) fines to support the struggling hospice sector in the UK. This initiative has garnered the backing of more than 40 Members of Parliament and peers, alongside support from over 30 hospices. The project started with a petition on change.org, which has so far collected 36,000 signatures. The public is being urged to reach out to their MPs to voice their support.
Corin Dalby, CEO of the Bolton-based consultancy Box Power CIC, along with COO Tricia Dalby, is leading the charge by aiming to secure majority backing from MPs. The campaign will formally present their proposal at 10 Downing Street on December 10, with numerous MPs expected to participate. The hospice sector faces a significant financial crisis, already contending with a £70 million funding gap when the campaign launched. This shortage has resulted in job losses and reduced service hours across many hospices.
Hospice UK and other organizations have highlighted that NHS contributions fall short, covering just 10% to 25% of operating costs for hospices. They stress the need for a long-term, sustainable funding solution. Corin Dalby emphasizes the growing hardship, expressing the need for additional funding, “Some have tirelessly fundraised to build precious rooms left empty because they cannot fund them due to cost constraints.” The reality is that more robust funding for hospices can alleviate the strain on NHS and social care services.
The campaign is gaining traction, especially as FCA fines continue to mount, with recent penalties including £40 million for Barclays Bank and £13 million for Macquarie Bank, bringing the total fines to £174 million this year. Dalby argues that redirecting these funds is logical as they often arise from an injustice impacting UK citizens, who could benefit from hospice services. Political support for the campaign spans across parties, showcasing broad appeal and commitment to the hospice cause.
MPs such as Stuart Andrew, Phil Brickell, and others have openly supported the effort, drawing on personal connections and understanding of the sector’s challenges to bolster the campaign. The list of supporting hospices underscores the widespread need for immediate financial intervention.
The initiative to redirect FCA fines towards hospices is gathering momentum, signaling hope for the sector’s future sustainability.
