04 November 2026
Hakim Group has welcomed the Budget set out by Chancellor John Healey last week (Wednesday 28 October) but has warned that confidence for independent optometry practices relies on more than simply supporting businesses on the High Street.
The Budget “offers some welcome support for High Street businesses and their employees,” Martin Ashcroft, chief financial officer at Hakim Group, said.
Ashcroft emphasised: “Without a doubt, this Budget provides some useful support for both businesses and households.
“But its longer-term success for optometry and hearing care should be measured by confident practice owners, supported teams and better access to high-quality care in the communities that need it.”
He added: “Backing independent optometry and audiology isn’t simply about supporting businesses or the High Street. It is about investing in healthier communities, a stronger economy and a more resilient society.”
He emphasised that: “For independent optical and hearing care practices, the real test will be whether it gives owners the confidence and financial capacity to invest in their people, their practices and patient care.”
Independent optometry practices play a vital role in community healthcare whilst supporting High Streets, creating skilled jobs, and allowing patients to access essential care close to home, Ashcroft noted.
“Government policy needs to recognise both,” he said.
Hakim Group shared their key takeaways from the Budget with OT.
1 Business rate relief must offer an opportunity for investment in practices
Ashcroft called the increase in the threshold for business rate relief to £18,000 “a welcome step in the right direction,” but noted that eligibility is crucial.
“For those that qualify, this should create valuable headroom to invest – whether that means recruiting another member of staff, refurbishing a practice, upgrading technology or investing in diagnostic equipment,” Ashcroft said.
He added: “The Government has taken a positive step, but the real measure of success will be whether independent practices can feel the benefit in their bottom line – and use that breathing space to invest in better services for patients.”
2 Minimum and living wage increases welcomed in a cost-of-living crisis
Hakim Group welcomed the increase in the national minimum and living wages to £13.21 an hour, which will take effect in April 2027.
“Our people deserve to be rewarded for the care, skill and commitment they bring to patients every day, and competitive pay is an important part of attracting people into the sector and building rewarding, long-term careers,” Ashcroft said.
However, he emphasised that: “Supporting our people means supporting the businesses that employ them.”
Ashcroft said: “The Government’s ambition to improve pay and living standards is the right one.
“The challenge is ensuring that ambition is matched by an economic environment that allows employers to sustain jobs, invest in training and give people genuine opportunities to progress.”
He emphasised: “If we want to see better pay, stronger career pathways and a thriving community healthcare workforce, we also need to make sure the businesses employing those people can afford to provide them.”
The decision not to further increase National Insurance rates is reassuring given the wider pressures already facing businesses, including rising employment and operating costs, Ashcroft added.
He also noted that the extension of electricity VAT relief and targeted household energy payments “will provide some welcome support for patients and colleagues facing continued pressure on household finances.”
Ashcroft did caution that “the cost-of-living crisis mustn’t become a healthcare crisis,” however.
“My wider concern is what happens when people feel they can no longer afford to prioritise their health,” he said.
“When people are worried about paying the bills, essential healthcare can too easily fall down the priority list.”
Ashcroft emphasised: “We know that financial uncertainty can lead people to postpone appointments, delay replacing glasses or put off seeking help for hearing loss.
“Good vision and hearing are essential for everyday life, work, communication and independence. We want people to feel able to seek care when they need it – not wait until a problem has become more difficult and, potentially, more costly to treat.”
3 More confidence for the future is needed
For practice owners, building a successful independent business for the long-term is about more than taxes, Ashcroft noted.
“It is about having the confidence to invest in their practice, to build a team, and plan what happens to the business in the years ahead,” he said.
Ashcroft noted: “Independent practice owners can spend decades building successful businesses, developing skilled teams and becoming an important part of their local communities.
“For them, succession planning is not simply a tax issue. It’s about protecting the future of the practice that they’ve nurtured and grown, that has looked after its employees and the patients it serves.”
He added: “Business owners need clarity to make long-term investment decisions, to bring the next generation into the business and to plan for retirement. This requires a tax and regulatory environment that gives them the confidence to do so.”
4 The Government should utilise optometry more effectively
“The Budget’s biggest opportunity is unlocking community healthcare,” Ashcroft said.
He called on the Government to: “Please make better use of the expertise, capacity and infrastructure that already exists within community optometry and audiology.”
“Independent practices are already embedded in communities across the country and have the skills, technology and patient relationships to play a much greater role in assessment, monitoring and appropriate referral – helping people access the right care closer to home and reducing unnecessary pressure on hospitals,” Ashcroft said.
He emphasised: “But that capacity will only be unlocked if [the] Government is prepared to back it properly.
“This means providing sustainable NHS sight-test funding, properly funded locally commissioned services and straightforward referral and communication pathways between community practices and hospital teams.”
Investing in the technology, equipment and training for practices that plan to take on more complex care is required so that they can do so safely and effectively, Ashcroft believes.
Ashcroft explained: “Our independent practices want to do much more for their patients and their local communities, but willingness and readiness aren’t enough.
“First, we need the framework in place for our services that are properly commissioned, appropriately funded and financially sustainable.”
He added: “The capacity is here. The expertise is here. We’re ready to contribute more. What’s needed now is the commissioning framework and funding to provide the necessary additional NHS care.”
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