Association of British Insurers: Cross-party consensus on radical on long-term care funding reforms essential

Association of British Insurers: Cross-party consensus on radical on long-term care funding reforms essential

Association of British Insurers: Cross-party consensus on radical on long-term care funding reforms essential

The ABI is calling on all political parties to agree radical and enduring reform of how long-term care is paid for in the future. This is vital to enable the public and private sectors to work together to ensure that the UK’s ageing population is properly looked after. Responding to today’s Green Paper on the reform of adult social care in England – Shaping the Future of Care Together, Stephen Haddrill, the ABI’s Director General, said:

“An ever-growing number of people need access to care every day, so reaching a settlement on long-term care funding is a growing priority. People can only make plans if they know what they are planning for. That is why we need consensus across the political spectrum for radical and enduring reform of long-term care funding.

“Care homes are expensive, with most elderly people paying for care from their life savings or having to sell their own home. The current funding situation is not sustainable, and given that the Government has made clear that no extra money is available, the private sector has an essential part to play in meeting the growing need for care. The insurance industry stands ready to work alongside the Government to provide a realistic and sustainable solution.”

Notes

1. Enquiries to:
Jonathan French 020 7216 7392 (Mobile: 07958 330 480)
Malcolm Tarling 020 7216 7410 (Mobile: 07776 147 667)
Erfan Hussain 020 7216 7411 (Mobile: 07712 841 184)
Kelly Ostler-Coyle 020 7216 7415 (Mobile: 07968 364 302)

2. The ABI is the voice of the insurance and investment industry. Its members constitute over 90 per cent of the insurance market in the UK and 20 per cent across the EU. They control assets equivalent to a quarter of the UK’s capital. They are the risk managers of the UK’s economy and society. Through the ABI their voice is heard in Government and in public debate on insurance, savings and investment matters.

3. An ISDN line is available for broadcasts.

4. More news and information from the ABI is available on our web site, www.abi.org.uk