How will the Government help aged care providers meet this need?
Drawing on the Review’s analysis, and after allowing for the increased emphasis on community care, the Government estimates that the aged care sector will require $10.3 billion to service its capital requirements for new buildings and upgradings, and their existing debt, over the next ten years. Without additional assistance, public and private contributions (concessional resident supplement and accommodation bonds and charges) would have amounted to $9.1 billion over this period, leaving a shortfall of $1.3 billion. This package will ensure that this shortfall is met entirely, with the vast proportion – nearly $1 billion – coming from the Australian Government.
