Living to a ripe old age should be cause for celebration.
The question of how to finance the long-term care of the elderly, and disabled adults of working age, has long vexed politicians. Last year the coalition government asked Andrew Dilnot, an economist at Oxford University, to come up with a plan. In contrast to other reforms that are designed to transfer the costs of state services to those who incur them, such as students, Mr Dilnot’s report, released on July 4th, suggests the exchequer should pay more.
It would also be costly for the state. Demand for elderly care has increased by 9% over the past four years, and it is set to rise further as life expectancy climbs (while the proportion of the population of working age shrinks).
Read more: http://www.economist.com/node/18928638
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