New research from an Alzheimer's Research Trust commissioned report suggests that the cost of dementia to the UK economy is £23 billion per year - twice as much as that for cancer, three times as much as that for heart disease, and four times as much as that for strokes.

Despite this, spending on research into the causes and cures of dementia is shown to currently be 12 times lower than equivalent research into cancer, however.

Urgent need to bridge the funding gap

Bridging this funding gap is urgent, the report says, given the numbers of people with dementia are much higher than thought.

New statistics released from the Alzheimer’s Research Trust commissioned report by the University of Oxford suggest that there are now 820,000 people in the UK with dementia, 15% higher than had been previously estimated.

The Trust says this figure will now pass the one million mark before 2025.

Michelle Mitchell, Charity Director for Age Concern and Help the Aged, said:

'The fact that dementia research remains so disproportionately underfunded will be deeply concerning to older people, their families and anyone who has experienced this cruel disease.

'The financial burden of this disease is already very high and this will increase further as the population ages unless we find a cure or learn how to prevent dementia.

'Dementia is not going to go away and it is therefore of paramount importance to both sufferers now and society as a whole, that we invest in research.

'This is why Age Concern and Help the Aged are a major funder of dementia research and we strongly support calls for more funding for this vital work.'

• Visit our Disconnected Mind website to find out about our research into the causes of mental decline.
• Read about our 'Down, but not out' campaign for fair access to treatment for older people with depression.