Shocking new research commissioned by Alzheimer’s Society shows the total cost of dementia to the UK economy has risen by £11 billion to £34.7 billion a year. This cost is set to increase substantially with the number of people living with dementia expected to continue to rise to £94.1 billion by 2040 as stated in the report by the Care Policy and Evaluation Centre (CPEC).
Over a third of this cost is borne by unpaid carers, with this contribution rising by £2.3 billion to £13.9 billion a year. The financial burden on unpaid family carers is expected to soar to £35.7 billion by 2040.
This new research reinforces the unique role tide, together in dementia everyday is working to highlight. tide is the only UK wide involvement network specifically focused on ensuring that carers and former carers of people have their enormous contribution to dementia recognised and respected as well as the costs of this on carer’s own health and wellbeing. Over 70% of unpaid family carers report that their physical, mental and financial wellbeing suffers as a direct result of taking on their caring role.
Anna Gaughan Chief Executive of tide, together in dementia everyday said, “£13.9 billion a year is the contribution made by unpaid carers and they absolutely deserve to be recognised as experts by experience in their own right. Through our work with carers and former carers of people with dementia, we want to make certain that they have a legitimate voice in all decision making and are respected as equal partners with professionals. This wealth of expertise is still a largely untapped at all levels – national, regional and local policy, research and practice across the UK and this needs to change”.
Find out more about the work of tide, together in dementia everyday and join in our quest to ensue that the collective voice of unpaid carers of people with dementia is strengthened across the UK.
Let’s stand together to achieve this much needed change at all levels across the care system.
The report, Dementia care costs to nearly treble in next two decades can be accessed here www.lse.ac.uk/News/Latest-news-from-LSE/2019/K-November-2019/Dementia-care