Social care funding: industry and government statement of intent
Industry and government will work together to develop the market for financial products to help people pay for their care.
Applies to England
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This statement is a public commitment from Department of Health and the financial services industry to work together to help people plan and prepare for the costs of their long term care.
This includes creating the right conditions for the development of more financial care products and overcoming the barriers identified in the industry led report into care products.
The Department of Health invited representatives of the financial services industry to conduct a review of the care product market. The industry-led review found that the Care Bill went a long way to creating the right conditions, but that more work remained to be done.