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The Royal Commissions Report A financial Advisers Perspective

The Royal Commission has finally reported with its proposals for long term care for the elderly. This was the watershed that long term care fee advisers had been awaiting for some considerable time, as being the event that would at last remove the uncertainty surrounding giving advice. But has it?

1 May 1999

The Royal Commission's Report - A Financial Adviser's Perspective

The Royal Commission has finally reported with its proposals for long term care for the elderly. This was the watershed that long term care fee advisers had been awaiting for some considerable time, as being the event that would at last remove the uncertainty surrounding giving advice. But has it?

The report was entitled "With Respect To The Old Age " and perhaps this was the best part of it. The report creates more uncertainty than it removes. Doubt over costings creates further uncertainty, and it seems uncertain what the Government will and will not accept, and within what timescale. Frank Dobson, when announcing the publication of the report to the House, commented that money could either be used to alleviate the means test or to improve the quality of care, but not for both. This has been widely taken as a signal that there would be no new money made available.

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