Capping social care is a misguided move
“It is bad economics and awful morality to claim that a cap can be put on the costs of social care.
“As people live longer, we need to recognise that forcing young people to pay for the needs of affluent older people is deeply immoral.
“There should be no state-sanctioned cap on costs and we should reasonably expect those with high levels of capital – such as a house – to use their own equity to pay for their needs.”
Prof. Philip Booth, Editorial Director at the Institute of Economic Affairs, said:
“Governments have tried to find a satisfactory solution to this problem for 20 years. Unfortunately, this government seems to be proposing something that will be the worst of all worlds. There will be a rise in Inheritance Tax, control of care home fees and an increase in government spending on long-term care. Given the long-term fiscal backdrop, this is a dangerous move.”
Notes to Editors:
To arrange an interview with an IEA spokesperson, please contact Stephanie Lis, Director of Communications: 020 7799 8909, [email protected]
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
The IEA is a registered educational charity and independent of all political parties.