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Prime Minister warns of need to meet £6bn LTC shortfall

The Prime Minister says “radical reform” is needed to address the £6bn shortfall in funding for long-term care.

In a speech this week to the King’s Fund, a charitable health foundation, Brown launched a consultation into how the Government and families should share the bill. He said many people fear selling their family home to pay for care.

Brown said: “There is no easy solution to this problem although measures which succeed in supporting frail older people in their own homes for as long as possible will help.

“But we can and must look to give people the opportunity and the support to save for their old age in a way which insures them and protects their houses and their inheritance.”

Association of British Insurers head of health and protection Nick Kirwan says: “We now need our political leaders to show the courage to see this through to a conclusion. The insurance sector is ready to play a part in developing safe, simple and affordable products.”

Brown said that 15 million people in the UK have long-term conditions but the Government’s Personal Social Services Research Unit predicts that this figure will rise to 17 million in 20 years.

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