In the context of increasing need for long-term care, the reconciliation of employment and caring is an important social issue. In England, the annual public expenditure costs of unpaid carers leaving employment are approximately £2.9 billion. Previous research shows that provision of paid services to people cared for by working carers, sometimes known as ‘replacement care’, is effective in helping unpaid carers to remain in employment. This study makes an estimate of the public expenditure costs of ‘replacement care’ for working carers in England. Using data from the English Longitudinal Study of Ageing and 2015–16 costs data, the study finds that the public expenditure costs of ‘replacement care’ for working carers are approximately £2.5 billion a year, which is considerably lower than the costs of carers leaving employment. The study concludes that greater public investment in ‘replacement care’ to support working carers in England would represent good value for money.