Care Isa is just the latest in a long line of daft solutions from the government
Everyone agrees something must be done to plug the gap between the cost of care and the money available. At the present level of provision, the gap between what is spent and what is needed is expected to be £3.5bn a year by 2025, according to the Local Government Association. It is around £2.5bn now.
At the end of August, Newcastle University’s Institute for Ageing found the number of over-65s needing 24-hour care would rise by a third by 2035, and Age UK found older people and their families were bearing a lot more of the financial risk of needing expensive long-term care.
So yes, something must be done. But what? The problem has produced more daft solutions and been reported in more false headlines than any other.
The latest answer to this crisis is the Care Isa: a mad mixture of relief from a tax the vast majority of people never pay and with the promise of flexibility which every couple in fact already has. But more of that later.
First, some of the wrecks that litter the seabed of this ocean of misunderstanding…