by RAY FLEMING
GORDON Brown's announcement of a national consultation on the future of care and support for the elderly is welcome both for the importance of the issue and for the indication it gives of his determination to address society's long-term problems. There is no doubt that existing provision, whether private or public, for the care of the elderly is being overtaken by demographic change. There are five million people over 75 in Britain today; that number will increase by two-thirds in the next 25 years. The annual public cost of care for the elderly will rise from the present 12.7 billion pounds to almost 41 billion, plus inflation, by 2041. Privately funded care which currently must be provided by those with more than 22'000 pounds in savings (including property) is becoming an intolerable burden in many cases.
FUNDING OLD AGE
16/05/2013 00:00
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