Autumn Budget 2024: Pharmacies ‘deeply worried’ about National Insurance rise

The new Labour government’s first budget has not been well received by community pharmacies, who are ‘deeply worried’ about the increase in National
Insurance and the national living wage.

They have also voiced their dissatisfaction with the Autumn Budget 2024 for lacking measures to address pharmacy closures.

Commenting on the Chancellor’s Budget, Paul Rees, CEO of the National Pharmacy Association (NPA) said: “Millions of people who depend on local pharmacies will
be holding their breath today, hoping that the £22.6bn increase in health spending announced by the Chancellor will include money to stem the devastating closure
of local health services in the past decade.

“There’s absolutely no mention in the Budget of action to halt the closure of our vital NHS pharmacy network, which has been shrinking at the rate of seven a week
as pharmacies are forced to close through underfunding.”

According to the NPA, around 700 pharmacies have shut since just the start of 2022 due to the impact of a 40 per cent cut to funding coupled with rising demand.