View more on these topics

Kames Capital calls for clarity over Dilnot report

Kames Capital has called for greater transparency from the Dilnot report, claiming it has left many questions unanswered.

Kames and Target Advisers, which run the £75m Kames target healthcare fund, are calling on the Commission on funding for care and support to provide greater clarity into its proposals for funding long term care in the UK.

The report, which was relayed to the Government in July 2011, has proposed that an individuals lifetime contribution towards their social care costs should be capped at £35,000 and that once this limit is reached a person is entitled to full state support. It also calls for the means tested threshold, above which people are fully liable for full care cost, to be raised from £23,250 to £100,000.

Kames target healthcare fund manager Gillian Bowman says: “We welcome the fact that care funding is still on the political agenda. But given the UK’s demographics, with the number of very elderly and those with chronic illnesses and dementia increasing dramatically there is  growing demand for care.  Good care comes at a price and there is an urgent need to clarify how it will be funded going forward. There are a lot of unanswered questions in the Dilnot report and we look forward to seeing more details.”

Target Advisers LLP is a specialist advisory and property management services provider to the healthcare investment sector. Managing director Kenneth MacKenzie says: “Dilnot’s proposals only cover the care element of the costs, which represents approximately 30 per cent of the total fees of the residential sector.  How will the extra 70 per cent towards the cost of the accommodation be funded? 

’We also need to have clarity on what processes will be put in place to ensure there is a fair and proper way of means testing those entering care with savings above the proposed limits.”

Recommended

Skandia tops The Platforum Q4 leaderboard

Skandia has finished top of The Platforum leaderboard for the fourth quarter of 2011, finishing ahead of Nucleus in second and Cofunds in third. The Platforum examines platforms’ performance in terms of financial strength, momentum and price on a quarterly basis and includes reviews of around 1,700 advisers. The top five platforms in the leaderboard were […]

Labour wants to widen FCA competition scope

Labour wants the Financial Conduct Authority’s competition objective extended so it has to consider how easily consumers can find appropriate products that are good value for money. This would add to the regulator’s operational objective of promoting effective competition in the interests of consumers by setting out what those interests are. The Financial Services Bill […]

3

HMRC to launch 30 tax dodger task forces

HMRC plans to launch 30 new task forces to crack down on tax avoidance and evasion over the next two years. The teams will focus on specific business sectors and locations where the tax man suspects evasion, including the fashion industry, motor trade and indoor and outdoor markets. Treasury exchequer secretary David Gauke says: “The […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment