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Dementia care costs for families will treble to £62billion a year within only two decades, a major report suggests today.
Relatives of the hundreds of thousands of people with dementia already foot a £9billion annual bill for social care and provide £14billion-worth of unpaid care themselves.
Sum - £23billion - Projections - London - School
But this sum of £23billion is set to soar nearly three-fold by 2040, according to projections by the London School of Economics.
The figures lay bare the huge scale of the burden on the nation's families. Anyone with more than £23,250 in savings, including the value of their home, is rejected for state-funded social care.
People - Family - Homes - Care - Ones
This means many people have to sell their family homes to pay for the care of loved ones. Thousands of others give up work to look after relatives.
The Daily Mail is campaigning to end this scandal and in October we took a 356,000-strong petition to Downing Street calling for urgent action.
LSE - Report - Alzheimer - Society - Projects
The LSE report, commissioned by the Alzheimer's Society, projects the rise in costs if no political changes are made.
The cost of dementia care to the NHS will also soar from £5billion in 2019 to £12.5billion in 2040.
Cent - Care - Bill - Taxpayer - £7billion
Meanwhile the 43 per cent of the social care bill paid by the taxpayer will rise from £7billion to £19.5billion.
In total, the cost of dementia care to the economy will reach an eye-watering £94billion, up from £35billion today.
Number - People - Dementia - Cost - Care
While the number of people with dementia is expected to rise from 880,000 to 1.6million by 2040, the cost of care will outstrip this as people live longer and become more frail.
Jeremy Hughes, chief executive at the...
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