Wow is this the Tories new death tax?

Standard

More elderly people will have to pay for their own social care in the home and lose universal benefits under a new Conservative policy which, Theresa May will say on Thursday, is difficult but necessary to tackle the crisis in funding.
Introducing the party’s election manifesto, the prime minister will say it is the “responsibility of leaders to be straight with people about the challenges ahead” as she unveils a controversial policy that would reduce the value of estates that many people hope to pass on to their children.
The policy will be a flagship measure in the Tories’ election manifesto, which the prime minister will pitch as a programme for solving some of the challenges facing Britain. It means wealthier people with more than £100,000 in assets will have to pay for their own elderly care out of the value of their homes, rather than relying on the council to cover the costs of visits by care workers.
Related video: The art of repetition – how May is ramming her message home (Provided by Sky News)
The Conservatives will attempt to soften the blow by promising that pensioners will not have to sell their homes to pay for their care costs while they or a surviving partner are alive. Instead, products will be available allowing the elderly to pay by extracting equity from their homes, which will be recovered at a later date when they die or sell their residence.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s