Back to the General Election and the Tory manifesto. In its document, Britain’s ruling party further risked its double-digit polling lead with unpopular plans to raid estates to fund social care. The move will see anybody with more than £100,000 in assets being responsible for the cost of their social care. The assets include privately-owned homes, meaning costs can be deferred until death.
Pensioners will be able to receive care without resorting to selling their assets, but that doesn’t mask the brutal reality that elderly homeowners, who account for 75% of those aged 65 and over, will see their net worth dwindle considerably after a lifetime of paying taxes. The policy will also eliminate the cap on the total cost of care, meaning that the government will now be empowered to seize the vast majority of a person’s estate after death simply for requiring complex care.