Tuesday, 23 May 2017

Dementia Tax

So it is well known that the Tories have been nibbling at the NHS to privatise services but to actually privatise social care is shocking.

The idea behind the NHS was that everyone would be covered by a country wide insurance scheme so why now try to make everyone pay for their own long term care whether that be in the house or a care home.

The tempter for Tory politicians and their right wing friends is the amount of money currently swilling about in houses and bank accounts for a section of the elderly.  This is a big prize. So these financial corporations have already got equity release products that could, I presume, easily be adapted to suck money out of your assets making these financial companies very happy.

So in effect this was a staggeringly stupid attempt to give the financial corporations a huge boost to profits on the back of the grandparents.

Then there is the notion that this is intergenerational fairness.  It is nothing of the sort.  If the money is taken out of your house value it then does not go to your children and grandchildren as an inheritance.

Make no mistake this was an attempt at "mugging" all generations on the back of a long term sickness.

There are plenty of other ways of raising money to cover social care that are fair and do not penalise sick old people while at the same time penalising the young people's inheritance.