ABI: Private sector can ease ‘unbearable strain’ on long-term care.
Responding to today’s announcement that the Government intends to produce a Green Paper on reforming the system of adult care and support, Stephen Haddrill, the ABI’s Director General, said:
“We are living longer than ever before, and the trend is increasing. The challenge for society is how to take care of people as they become infirm in old age. We believe that without the involvement of the private sector, the strain on individuals, families and the taxpayer will be unbearable.
“The ABI is at the forefront of the debate on how all sectors involved in long-term care can come together to ease the strain, and we are pleased that the Government is engaging in this crucial area.
“The private sector currently plays only a small part in the provision and funding of long-term care. However, with the right environment, we believe this could change significantly.”
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Notes for Editors
1. Enquiries to:
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2. The ABI is the trade association for Britain’s insurance industry. Its nearly 400 member companies provide over 94% of the insurance business in the UK. It represents insurance companies to the Government, and to the regulatory and other agencies, and is an influential voice on public policy and financial services issues. ABI member companies hold up to a sixth of all investments traded on the London Stock Exchange, on behalf of millions of pensioners and savers.
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