Following the publication of Reform’s Report on the funding of social care entitled ‘Old and Broke’, Andrea Rozario, Director General of SHIP comments:

“By 2021, there will be 3.2 workers to support every person over the age of 65 so it is clear that the current care funding situation simply cannot be allowed to continue.  Therefore, we welcome the Reform Report as not only does it add to the debate by providing some possible next steps but it also clearly highlights the role that housing equity needs to play in solving this crisis.

“At SHIP, we have been actively campaigning for a Government department to take responsibility for the equity release market and we are therefore delighted that the Reform Report supports this stance.    The current generation of over-55s are equity rich but often cash poor so it makes sense that the Government becomes involved in highlighting one of the potential solutions to the looming care crisis.

“We look forward to the Dilnot Commission announcement next week and hope that this report also tackles the funding crisis head on.”