Derek McMillan did not mince words with his views of politics overriding policy, hindering responsible treatment of the retirement village and aged care sector.
Fresh from being elected the inaugural chairperson of the Retirement Living Council [replacing the Retirement Village Association], he wrote a strong comment in The Age newspaper over Christmas directly attacking the Gillard governments Living Longer, Living Better strategy. He said Despite being promoted by Ageing Minister Mark Butler as driving strong investment and renewal in aged care, the [reduced cap on prior approval bonds] proposal will have the opposite effect on a sector in which construction of new accommodation, both retirement villages and aged care, is rapidly falling hopelessly behind future demand.
McMillan points out that government intervention in accommodation bond levels continues to preclude new development. He says there are just 25 to 30 aged care facilities currently in construction but the nation requires 80 new aged care facilities to be built every year between now and 2020 to meet demand.
The government action will also stifle investment in high-cost inner city locations that many people want and in many cases are prepared to pay for, contrary to the concept of consumer choice. He points out todays elders...will be forced to live in a place and manner they would not choose, but it will be the next two generations who will also bear the cost. This is not the time to be putting an ill considered and unnecessary tether on the aged care sector.
Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania
Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...