An extra £10bn will be required to maintain the social care system by 2030, according to the Institute for Public Policy Research (IPPR).
The Lord Darzi Review of Health and Social Care interim report also found that the annual bill for the NHS would rise to £50bn by 2030.
Lord Prior, former Conservative Health Minister and Vice-Chair of the Lord Darzi Review said: “Health and social care is facing a perfect storm, with the needs of a growing and ageing population rising faster than the available resource. As a consequence, waiting times are lengthening, more operations are being cancelled, health inequalities are increasing and more hospitals are going into the red.
“The system is under great stress. The Government needs to take heed of this report: it should commit to a long term, more generous funding settlement, invest heavily in integrated care and prevention and support urgently the new digital technologies described in the Life Sciences strategy.”
The report revealed a 5% drop in the number of people receiving publicly funded social care each year since 2010, despite a significant increase in the number of elderly people in need of it.
Professor Lord Ara Darzi, Chair of the Review, said: “While the prospect of a long-term funding settlement is welcome, it is vital that it delivers enough money to meet the demands of the decade ahead. Funding the NHS, while social care falls over is not an option.”
A final report, including a proposal for long-term funding and a plan for health and care reform will be published to mark the NHS’s 70th birthday celebrations later this year.