$5.5 billion funding shortfall

As both major parties continue to ignore the industry’s calls for urgent action, more damning evidence has emerged about the sustainability of aged care in Australia.

As both major parties continue to ignore to ignore the industry’s calls for urgent action, more damning evidence has emerged about the sustainability of aged care.

A report commissioned by the Aged Care Industry Council (ACIC) and conducted by PriceWaterCoopers, reveals the sector faces a massive $5.5 billion shortfall between 2008 and 2020.

The Estimation of Capital Needs for the High Care Residential Aged Care Sector report said a massive funding injection is needed to maintain the current ratio of 44 beds per thousand people over the age of 70.

But so far in the election campaign, neither the Coalition not the ALP have committed to addressing the inadequacy of aged care funding.

ACIC spokesperson and ACAA CEO Rod Young told Australian Ageing Agenda the major parties have forgotten about aged care.

“It’s extremely disappointing,” said Mr Young.

“It appears as if aged care has been completely forgotten by both major parties up until this point in time, as far as major policy announcements go.”

Click here to see ACIC’s ‘Vote 1 Aged Care’ election campaign scorecard

Tags: election, sustainability,

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