In today’s Guardian it is suggested that the government is considering a £20,000 levy on estates to pay for social care. This is just another unfair Labour tax which looks like simple confiscation compared to the Tories’ proposals for a voluntary national scheme that allows people to pay a one off premium of £8,000 to pay for social care when they retire. Labour really have no idea beyond grab, grab, grab.
According to Shadow Chief Secretary to the Treasury, Philip Hammond:
Gordon Brown has a track record of saying ‘no new taxes’ before an election, and then raising them by stealth after it. Labour are now secretly planning another tax – a death tax – to pay for this unfunded, ill-thought out plan for social care. When you die, a Labour Government would take £20,000 from what you leave to your children and family. For those with the most modest savings Labour’s plans could leave them with nothing. In contrast we want to help people in old age so that they can leave as much of their lifetime’s savings as possible to the next generation. We will offer people the chance to pay a one off premium of £8,000 into a voluntary scheme to cover the cost of residential care in old age. So under our plans no-one would be forced to sell their home to pay for care.