This is the start of a series of blogs which will cover the financial cost of providing for oneself in later life, including the cost of care should you need it.
As we move closer to the next General Election in 2015, the politicians start to test the water of what might appeal to the electorate and what would upset them. Think tank reports are a way of starting this process and then being able to distance yourself from ideas that don’t curry favour.
The Baker Report on how to pay for long-term care of the elderly has a chocolate box selection of things elderly voters will like and dislike in equal measure. The overall aim of the report is laudable in that it sets out to end the inequalities of funding the care system, in which some elderly people have their long-term care costs met but most do not, particularly those with dementia.
I think this was wishful thinking from the start and another example of raising false hopes. The Government estimates that the current annual no-care budget of £6 billion will increase to £9 billion by 2025.
Providing free no-care would double this to £20 billion by 2025. So that guarantees it won’t happen. There is no going back to free care, when care was never free for those who could afford to pay.
The illusion of free care only persists because no Government wants to face the elderly and tell them that they will have to pay the cost of long-term care themselves, if they want a quality care service.