Economic experts say social care will need an extra £8 billion a year of funding by 2033/34

Topics covered: Ridouts professional advice

If the current system is to be maintained, economic experts have said social care will need an extra £8 billion of funding by 2033/34. Spending is likely to have to rise by 3.9% a year over the next 15 years to meet the needs of an ageing population and an increasing number of younger adults living with disabilities.

In order to overcome the “considerable variation” in social care spending across different areas, reports have also said that a centralised adult social care funding system could help to stop this.

Talks have also been had as to how funding would be structured in the future. Other issues for debate involve insurance and social care reform.

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