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Advisers fear Dilnot delay

Advisers fear that long-term care funding proposals may be put on the back burner after the Government once again refused to say when it will introduce the reforms.

At the Conservative Party conference in Birmingham this week, health secretary Jeremy Hunt said the Government will implement Dilnot’s proposals “as soon as we are able”, but he did not commit to a timeframe.

The Dilnot Commission’s report, published in July 2011, called for a cap on individuals’ lifetime contributions to social care costs of between £25,000 and £50,000, with £35,000 the recommended figure. People would become eligible for full state support when the cap is reached.

In July, prime minister David Cameron accepted the principle of a cap but questioned how the Government would pay the estimated £1.7bn annual price tag.

Last month, former care services minister Paul Burstow attacked the Treasury for having no “sense of urgency” over the reforms after his replacement, Norman Lamb, said he is in “no rush” to push ahead.

Symponia joint founder and director Janet Davies says: “We are fast coming to the time when this coalition will face an election and this will be put on the back burner. The Government needs to be bold and give us a date.”

Partnership director of corporate affairs Jim Boyd says: “There is a concern this will get kicked into the long grass because it is a very complex issue for politicians to address.

“At the heart of it is a politician must tell people, before an election, that they will have to pay for social care. No politician wants to be the one to do that.”



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A group of pension providers and reinsurers are considering launching an annuity underwriting bureau which would allow consumers to gain accurate medical information before they shop around for a retirement income product. Industry trade body Origo has completed a feasibility study into developing a central body, called the Annuity Medical Bureau, which would collect health […]


IMF calls for curb on austerity

International Monetary Fund managing director Christine Lagarde has called for countries to pull back on austerity measures over fears they could be dampening growth. According to the Financial Times, Lagarde (pictured) told delegates at the annual meeting of the IMF and the World Bank that it is no longer sensible for European governments to pursue […]


Alan Lakey: The FSA is having a laugh at our expense

There comes a point where you realise that someone is having a laugh. This term is frequently hurled at football referees when their legendary myopia causes them to miss a player who is clearly offside or perhaps scoring with a sneaky handball. In this instance, I am thinking of the team that always wins, the […]


Paradigm to launch investment management business

Paradigm is launching an investment management business offering funds, model portfolios and discretionary portfolio management services to independent and restricted advisers. The new proposition will launch later this year, subject to FSA approval. The name of the firm is yet to be decided. It will run alongside its existing asset management business Prism Capital Management. […]


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