PHARMACY PERIL
Hundreds of struggling pharmacies at risk of closing due to the Budget
Pharmacies 'can’t increase prices to cover rising costs' due to being NHS dependent
HUNDREDS of local pharmacies are at risk of closure from the Budget, threatening Brits ability to access much needed medications.
Struggling pharmacies are already closing at a rate of seven a week due to rising cost pressures and squeezed budgets from NHS reimbursements.
The Chancellor’s move to hike staffing costs in the form of higher minimum wages and increased national insurance contributions will make many pharmacies unviable, bosses warn.
Harry McQuillan, chairman of Numark Pharmacy, which has 5,500 independent community pharmacies in its network, told The Sun: “Unlike retailers and other businesses pharmacies can’t increase prices to cover these rising costs because 90 per cent of pharmacy revenue is NHS dependent.”
“I know one local pharmacy owner who is having to find £600 a month extra because of the Budget. This is not a big pharmacy, they will struggle to keep their doors open.”
Around 1,250 shutting since 2017 although the pace of closures has sped up in the last two years as pharmacies have faced a 40 per cent cut to their budgets.
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Paul Rees, Chief Executive of the National Pharmacy Association said: “It would be an insult if the government was able to offer support to GPs with the National Insurance rise but not hard working pharmacies, who have faced nearly a decade of cuts in funding and are shutting at record rates.”
“It is imperative the Government’s settlement for pharmacies this year halts the real terms cuts that have dogged pharmacies for years and covers increased National Insurance and National Living Wage bills, or we will face more pharmacies shutting in the months to come.”
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