Jessica O'ConnorTUC Cymru has called for a new way to care for vulnerable adults – that doesn’t see monies diverted to the pockets of financial speculators.
TUC Cymru is set to hold a fringe meeting at Welsh Labour conference in Llandudno today, 27th June, to highlight concerns at the role of financial speculators in delivering care to vulnerable adults.
The event aims to examine how profit extraction from care home real estate threatens not only the quality of care but also the working conditions of those employed in the sector.
The fringe event, taking place at the Menai Suite in Llandudno’s St George’s Hotel at 5.30pm, will include contributions from trade union organisers and researchers.
Speakers include Leanne Chapman, regional organiser at GMB; Jess Turner, regional secretary for UNISON Cymru; and researchers Vivek Kotecha and Toby Quantrill from the Centre for International Corporate Tax Accountability and Research (CICTAR).
Shavanah Taj, general secretary of TUC Cymru, will chair the meeting and lead calls for fundamental reform of the system.
She said: “TUC Cymru welcomes the Welsh government’s actions in legislating to remove profit from children’s social care.
“From April 2026, no new for-profit children’s care service will be commissioned. That’s a real win for our most vulnerable children and the unions which campaigned for this change.”
She continued: “But this must be just the beginning. As the cost-of-living crisis deepens, more and more people are struggling to afford the care they need.
“It is unacceptable that public money meant for adult social care ends up as profit for distant investors. Older people deserve dignity, not commodification.”
Taj emphasised the need to reshape the adult care sector with both the needs of care recipients and care workers in mind.
She added: “We urgently need a not-for-profit model for adult social care — one where local authorities and trusted charities lead the way. Crucially, this must go hand in hand with transforming the status of care workers.
“These are skilled professionals doing vital, emotionally demanding work, yet too many are underpaid and undervalued. That has to change.
“Care workers must be properly paid, with secure contracts, training, and career progression. Investing in the workforce is the only way to ensure older people receive the compassionate, high-quality care they deserve.”
