New Consultation On Social Care ‘Must Find Solution’ For Funding

Plans which will see the government set aside widely criticised social care reforms to instead launch a consultation on the issue have been welcomed by private wealth experts at national law firm Irwin Mitchell.

The Queen’s Speech outlined how the new Conservative government planned to reform the area, but the formal announcement did not make any specific pledges on the issue. Instead, it was confirmed that plans would be considered and a consultation would be launched in due course.

Many commentators have viewed the decision as a sign that the Conservatives are now ditching the so-called ‘Dementia Tax’ policy which drew strong criticism during campaigning for the 2017 general election.

Such a move has been welcomed by experts at Irwin Mitchell Private Wealth, who had previously voiced concerns regarding the lack of detail surrounding the plans to introduce a £100,000 floor when it came to paying for social care.

Expert Opinion

“As the election showed, funding for social care is a crucial and emotional issue for a huge number of families and it is only going to increase in importance over the next few years as people live even longer due to medical advances.

“Many will be relieved that the so-called “Dementia Tax” policy from the Conservative manifesto has been dropped, with there being wide acknowledgement that the proposal had a number of flaws and ultimately served to raise a huge number of questions.

“With all of this in mind, it is important that the consultation announced today helps to bring about a solution as soon as possible.

“Planning for later life is something that we all have to consider, and it is simply not the case that a person only needs to write a will and have a pension in place. There are a range of issues to consider, from care fees and inheritance tax thresholds to lasting power of attorney and mental capacity. Each of these needs to be given serious thought.

“It is hoped that the government’s further scrutiny of this area and the potential reformation of social care funding will prove to be a catalyst and kick-start those difficult conversations between family and friends.” Kelly Greig - Partner