Market Stability Report
The Social services and Wellbeing (Wales) Act 2014 provides the legal framework for improving the wellbeing of people, including unpaid carers who need care and support, and for transforming social services in Wales. Section 144B of the Social Services and Well-being (Wales) Act 2014 requires local authorities to prepare and publish market stability reports and makes provision for regulations setting out the form these must take, matters to be included, and the prescribed period for carrying out market stability assessments. These matters are set out in the Partnership Arrangements (Amendment) and Regulated Services (Market Stability Reports) (Wales) Regulations 2021.
The Act also requires Regional Partnership Boards to complete a market stability report (MSR) on a regional footprint to help local authorities and ABUHB understand the dynamics of the market for regulated services in our area. This MSR is structured in accordance with Welsh Government’s ‘Code of Practice and guidance on the exercise of social services functions and partnership arrangements in relation to market stability reports. The Code of Practice states that: “Market stability reports are designed to give a high-level overview and assessment of the overall sufficiency of care and support, and of the stability of the market for regulated services.” The Code of Practice recognises that there will continue to be a need for more detailed Market Position Statements and commissioning strategies for specific services and segments of the market.
This MSR highlights our current provision and will help us to assess issues such as the sufficiency, quality, and sustainability of regulated services within Gwent. A regulated service is those listed in the Schedule to the Social Services and Well-being (Wales) Act 2014. Currently these are:
- Care home services (adult and children’s)
- Secure accommodation service (for children)
- Residential family centre services
- Adoption services
- Fostering services
- Adult placement (‘Shared Lives’) service
- Advocacy services
- Domiciliary support services