Kames Capital has welcomed Health Secretary Jeremy Hunt's comments that he will look to implement a cap on healthcare costs for the elderly as soon as possible.
Speaking at the Conservative Party conference in Birmingham this week, Hunt told a fringe debate on social care that he would look to implement a cap on care costs as proposed by the Commission on Funding Care and Support, chaired by Andrew Dilnot.
The Commission, dubbed the Dilnot Report, proposed that the Government introduce a £35,000 cap on an individual's lifetime contribution to their social care, after which they would be eligible to full state support.
Whilst welcoming Hunt's comments Kames Capital has renewed calls for a speedy implementation of social care reforms to enable individuals and providers to plan for their futures.
Gillian Bowman, the manager of the Kames Target Healthcare Fund says: ‘Jeremy Hunt's comments are very welcome but there is still a need for action on the proposals sooner rather than later if individuals and care providers are to be able to make firm provision for their futures.
‘Individuals continue to be left in limbo with regard to how much they must set aside for their care provision whilst providers still cannot plan their future strategy of business models in the face of continued uncertainty and the strain of local authorities tightening their budgets.'
The Kames Target Healthcare Fund invests primarily in newly built properties that are designed to be care facilities. This ensures the provision of excellent purpose built accommodation which, in turn, is managed by operators who share the fund's philosophy of providing first class care to those most in need.
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