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 to £94.1 billion with the number of people living with dementia expected to continue to rise by 2040, as stated in a 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, a project made possible thanks to £1.2 million funding from The National Lottery Community Fund, 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 ensure 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
Who are we?
We empower carers by recognising them as experts by experience. tide aims to equip them with the tools and confidence to use their knowledge and experience in a positive way so that other carers can benefit from their strength, make their voice heard and bring about real change.
tide is a free network open to any carer, or former carer, of someone living with dementia. Each individual’s experience is valuable and welcomed
Find out more about the wok of tide, visit www.tide.uk.net/
About The National Lottery Community Fund
We are the largest funder of community activity in the UK – we’re proud to award money raised by National Lottery players to communities across England, Scotland, Wales and Northern Ireland. Since June 2004, we have made over 200,000 grants and awarded over £9 billion to projects that have benefited millions of people.
We are passionate about funding great ideas that matter to communities and make a difference to people’s lives. At the heart of everything we do is the belief that when people are in the lead, communities thrive. Thanks to the support of National Lottery players, our funding is open to everyone. We’re privileged to be able to work with the smallest of local groups right up to UK-wide charities, enabling people and communities to bring their ambitions to life.