This also shows how much pressure and desperate the Tories are feeling from a resurgent Labour. In her manifesto four days ago, ‘strong and stable’ May said that she intended taking the value of people’s houses into consideration when assessing the amount they would be charged for their social care. This would lead to people having to take out ‘equity release’, in which their houses would be sold and the money used to pay for their care, while allowing them to remain as tenants.
Florence, one of the great commenters to this blog, has pointed out just how nasty this policy is in a comment she posted to an earlier piece I did about it. She wrote
Equity release is not the same as insurance. Using equity release to pay for care is already available and has many times been shown to be the worse possible use of a house…
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