23 September 2009
City’s Cass Business School takes lead at Mansion House seminar
re cost of long term care for the frail elderly
NB Professor Mayhew’s discussion paper now only available from
next month once revised; download here from 22 October
Key industry figures and academics take part tomorrow in a (now
oversubscribed) Mansion House seminar on how financial services
could play a part in paying for long term care in an ageing
society.
The seminar, called by Lord Mayor Ian Luder, features a
discussion paper tabled by an expert on the topic, Professor Les
Mayhew. This paper will be revised after the discussion and be
available here from 22 October. Lord Mayor Ian Luder said: ‘None of
the answers to this important and growing challenge are easy. The
demographic bulge means the State cannot pay for everyone, while
for most people the cost of long-term care makes reliance on their
own money equally impracticable. Some form of partnership is
inevitable. The private sector has a key role to play, but no
solutions will work unless governments can provide more legislative
certainty.
‘The State could regulate the types of financial products
available, with firms then competing to provide them. The key is
that politicians from all parties need to help us develop a
consensus that will last generations. Only then will financial
services be able to help us with the problem of paying for long
term care.’
Ends
Notes to editors
About the Lord Mayor and the City of London:
The Lord Mayor is the annually elected head of the City of London
Corporation, which supports and promotes the Square Mile as a world
leading international financial and business centre and provides
local government and police services for workers, residents and
visitors. It also provides valued services to London and the nation
as a whole including management of Guildhall Art Gallery, the
Barbican Centre, the Central Criminal Court at Old Bailey, 4,240
hectares of open space, three wholesale food markets and acts as
London’s Port Health Authority. The Lord Mayor spends three months
a year overseas leading business delegations to fast-growing
markets, and receives in the City of London many leading
politicians and industry figures wishing to strengthen ties with
the globally-oriented financial services sector based in the
UK.
More information
Download a picture of Lord Mayor Ian
Luder
Press contact Greg Williams Tel 020 7332 1415 Mob 07889 167
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