Cost of care 'to treble by 2050'

Posted on 20 May 2011

The cost of looking after people paying for care is to treble in the next 40 years, according to new data.

Projections from the Organisation for Economic Cooperation and Development (OECD) found that ten per cent of people in the most industrialised nations will be over 80 years of age by 2050.

This compares to four per cent in 2010 and less than one per cent in 1950.

The organisation forecasts that this shift in demographic could see spending on care treble over the next 40 years.

Angel Gurria, OECD secretary-general, said that the rising costs mean countries must get better value from their money when it comes to long term care.

"The piecemeal policies in place in many countries must be overhauled in order to boost productivity and support family carers who are the backbone of long-term care systems," she added.

In other news, the government could be set to reform adult care law, following a report by the Law Commission, which uncovered 40 pieces of legislation that needed altering or scrapping.

Written by Megan Smith

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