Praising the work of Nightingale Hammerson at the welfare charity's biennial dinner on Tuesday, Labour business spokesman Lord Mendelsohn said being among the 500 guests at London's Guildhall meant more to him than his work in the House of Lords.

Lord Mendelsohn, a former adviser to Tony Blair, said: "There may be wisdom in politics, but there's a lot more in this room. It's the wisdom of people who know what they've got to do to care for the next generation and meet their responsibilities.

"I'm proud to be in the House of Lords, but prouder to be here with people who are going to do their duty and support those people who have to be supported."

Discussing his political role, he noted: "I'm a representative for business, innovation and skills and today my party leader refused to talk to the CBI [Confederation of British Industry]. Mine is not an easy job."

The dinner raised more than £1 million towards the extensive redevelopment of Hammerson House in north London, which is expected to cost £35 million. Another £4 million has already been raised, with more to come from the sale of assets.

Outgoing chair Harvey Rosenblatt warned of the "time bomb" facing charities as people lived longer. The average age of a new Nightingale Hammerson resident is 90 and 10 per cent of clients are aged 100 or above. In a pre-recorded message, community and social care minister Alistair Burt paid tribute to Nightingale's services. Matt Lucas featured in the appeal video.