The Government’s Ambitious Reforms For Social Care Could Prove Just The Tonic For A Healthier NHS

Announcing his ideas earlier this week, Prime Minister Gordon Brown outlined ambitious plans to reform Britain’s social care with the creation of an NHS-style national care service.

The Government's Ambitious Reforms For Social Care Could Prove Just The Tonic For A Healthier NHS

The reform, which will be set into three stages, will begin with a “radical overhaul” of care in the home that will provide support and services to encourage elderly people to live independently for longer in their own homes.

With lengthy waiting lists topping healthcare concerns for many UK residents, it is hoped that the social care reform will help alleviate future strain on the NHS where increased life expectancy of the ‘baby-boomer’ generation could lead to demand outstripping supply.

A representative for www.quoteboffin.co.uk praised the Government’s attempts to future proof the NHS even though the effects of any social care reform could take years to become apparent:

“The Government are right to have acted on current trends that suggest the NHS could face huge challenges in the future. Budget cuts, a growing population and increased life expectancy all add to an already strained NHS so providing improved support means elderly people are less likely to end up in hospital when they could be living independently or in a care home.

“It’s worth remembering though that the effects of any care reform will take years to filter through. If UK citizens are looking to avoid waiting lists and want guaranteed access to prompt treatment they are still better off going private until the benefits of any reform come to fruition.”

The reform has not gone without criticism however as a number of charities and care groups claim the Government’s aspirations – such as free residential care for anyone who has been in care for more than two years – cannot be backed up by solid and sustained local funding.

QuoteBoffin went on to further explain the concerns of those opposed to the reform:

“The social care white paper has met criticism from a number of charities and groups whose job it is to look after vulnerable people – such as disabled adults – who feel their needs have been ignored in favour of looking after the elderly.

Via EPR Network
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Make Overpayments To Lower Cost Of Credit Card Debt

Financial solutions company Think Money has welcomed a report from Moneysupermarket.com advising that credit card borrowers could significantly reduce their overall repayment term and the amount they pay by making more than the minimum payment.

Make Overpayments To Lower Cost Of Credit Card Debt

Moneysupermarket claimed that the difference between the average interest earned on savings and the interest payable on an average credit card debt (currently £1,989) is £308 a year – meaning it may make good financial sense to use savings to pay off debt.

The price comparison site said with this level of credit card debt, making just the minimum payment could mean the balance takes 22 years and 10 months to pay off. By contrast, paying just £20 more each month would reduce this by 17 years, and would reduce the overall interest paid by a third.

A Think Money debt expert said:

“Making any payments above the minimum, even below Moneysupermarket’s suggested increase, can help the borrower to clear their balance more quickly and reduce the amount of interest they pay.

“Making only the minimum payment may be a tempting option for some people, as it frees up cash in the short term – but it is likely to cost the borrower much more in the long run. As such, we advise people with credit card balances to try and budget for higher repayments where possible.

“But of course, this is not an option for everyone. Some people may find they’ve got to the point where they simply can’t afford even the minimum repayments – and anyone in that situation should speak with a debt adviser about debt solutions that could help.

“Even if the borrower can’t see any way of repaying their debts in full, there is help available – in the form of an IVA [Individual Voluntary Arrangement] or bankruptcy, for example.”

Via EPR Network
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Research Shows A Quarter Of IFAs Are Predicting Wide Spread Stock Market Fluctuations And Expect A W-Shaped Recovery In 2010

Prudential research shows a quarter of IFAs are predicting wide spread stock market fluctuations and expect a W-shaped recovery in 2010.

Research Shows A Quarter Of IFAs Are Predicting Wide Spread Stock Market Fluctuations And Expect A W-Shaped Recovery In 2010

The study revealed that 25% of IFAs expect wide fluctuations in stock market prices, with a further 24% expecting equity prices to stagnate, hovering between 5,000-5,500 points throughout this year.

While the majority of IFAs seem pessimistic about strong stock market growth, around 22% believe the FTSE index of leading shares will rise to between 6,000-7,000 points by the end of 2010. Just 4% of IFAs expect to see equity values fall in 2010.

The findings highlight ongoing caution regarding the UK’s economic recovery, with official figures released in January showing 0.1% GDP growth in Q4.

IFAs questioned for Prudential expect the impact of the recession, now regarded as the worse since World War II, to continue for some time, with 71% believing it will have a long term impact on how clients look to invest.

Andy Brown, Director of Investment Funds, Prudential said: “Clearly IFAs are cautious about the growth prospects for the stock market in 2010 and expect to see fluctuations in share prices for most of the year. However, it is encouraging to note that just 4% anticipate stock market prices to fall and, for investors, it is worth setting this against the background of very low returns on cash based savings accounts and the speed at which cash savings are being eroded by rising inflation.

“In the current environment it is more important than ever to actively manage investments and aim for savings to be placed in better performing funds and that the balance between cash and equity based savings and bonds is weighted to suit investors’ short and long term financial needs, aspirations and risk profile.

“While it is widely thought that stock markets will continue to fluctuate for the foreseeable future, there will be good opportunities and utilising a good fund manager and gaining financial advice is key if investors want to have the best chance of successfully riding a slowly rising market.”

Prudential recently launched five new actively-managed risk-rated multi-asset funds designed to help advisers focus on client management through an extension of its partnership with independent investment specialist Old Broad Street Research (OBSR).

The partnership gives advisers access to the asset allocation expertise of Prudential’s Portfolio Management Group* (PMG), which currently manages over £100 billion of capital, and the fund selection and recommendation experience of OBSR, in one place.

The funds are actively risk managed in line with their portfolio investment objectives and may help reduce the risk of potential TCF issues through running static portfolios.

The five portfolios – Defensive; Cautious; Cautious Growth; Balanced; and Adventurous – are available on a range of Prudential personal pension products, income drawdown, onshore and offshore savings and bonds.

Via EPR Network
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