Mr Ignatiev, who is expected to step down in June after 11 years at the helm of the central bank, also highlighted the prevalence of what are known in Russia as "one-day companies" used as conduits for money transfers that then vanish before paying taxes.

BBC: Sergei Ignatiev

"If we can find a better solution to paying for care, one day we might be able to replace the cruel "dementia taxes" we have at the moment and build a system meeting all of a person's needs - mental, physical, social - rooted in NHS values, " he added.

BBC: Labour conference: Andy Burnham vows to scrap NHS market