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Care costs for the elderly could treble

19th May 2011

A report by the Organisation for Economic Cooperation and Development has indicated that the cost of caring for the elderly could treble by 2050.

The body, which represents the most industrialised nations, estimates that 10% of people in OECD countries will be more than 80 years old by 2050, a rise up from 4% in 2010 and less than 1% in 1950. The report said countries must face up to the challenge of caring for ageing populations and a long term care was needed.

 

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