A ‘Social Care Bill’ must be included in the Queen’s Speech to confirm the government’s commitment to resolve issues with funding, a pensions and investments firm has urged.
Aegon has called for clarity in the speech, due to take place on October 14, on what the state will pay for and what individuals will have to fund themselves, based on their wealth.
It said some measures and social care funding commitments might feature in a future Budget, but the Queen’s Speech could pave the way for any primary legislation around more structural reforms.
“All major parties now agree there is a pressing need to tackle the growing problems of putting social care funding on a stable and sustainable basis,” said Aegon Pensions director Steven Cameron.
“For many individuals, the key assurance they want is that under new rules they won’t have to sell the family home to pay for social care.”
There is also a need to commit to central Government funding to remove the current postcode lottery, Aegon said, and a cap on the overall amount anyone will have to pay themselves, allowing people to plan ahead and protect inheritance aspirations.
Last week, Boris Johnson said the Conservatives will be the party to solve social care crisis, by raising the UK’s productivity.