Thursday, 18 May 2017

Conservatives manifesto: Winter fuel payments targeted to fund social care



Theresa May will unveil a social care revolution in the Tory manifesto, paid for by axing winter fuel payments for wealthy pensioners.
 
The Prime Minister will claim social care is "one of the great challenges of our time" and pledge that no one should have to sell their home to pay for it.


People will not be made to pay for their care if their assets are worth less than £100,000, up from the current £23,250, as the Conservatives attempt to tackle the long-term challenges of an ageing society.


However, for the first time, those who receive care in their own homes will have the value of their property included in their assets, dragging in tens of thousands more families to pay for social care.


Currently only those going into care homes have the value of their property taken into account when paying for care.


The move will leave Mrs May open to claims of a "death tax" as many families are likely to have to sell homes to clear the social care bill.


It is expected the change will bring in an extra £1.3bn a year to the Treasury. The money will be ploughed back into social care for those whose assets are worth less than £100,000.


Mrs May will also be scrapping winter fuel payments of up to £300 for wealthy pensioners - which could save £1.5bn, according to estimates by the Institute for Fiscal Studies.




SKY     News.