Was going to create a new thread but noticed that youād created one yonks ago so I hijacked itā¦
It was a good idea then, itās a good idea now.
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Presumably this is the same plan that Boris had ready to go a couple of years ago.
So, havenāt really read much about it yet but will capped care home fees apply to new inmates going forward, with those already in care having to use all of their life savings for care?
I still struggle with the concept that some of the be wealthy can have for example a million pound house, go into care for say 5 years costing Ā£40k a year and only have to contribute Ā£86k in total while their kids fill their boots with 900k of inheritance whilst the tax payer picks up the rest
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It should really be like the the personal allowance, not cap, but the amount you are allowed to set aside for your children to inherit BEFORE you have to contribute to the care, after all, you will have paid tax for years, on your earnings, and this equates to nothing more than another tax on cash you have already saved for a service you have already paid forā¦
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I think this is probably fairer.
My Dad died just before lockdown and we had to move Mum into care for her own safety- medically and personal.
Me, my Broā and Sisā donāt really care about any inheritance but if my mum lives any length of time all of their savings and proceeds from the sale of their house will have to be used for her care (except Ā£20k) unless the new rules will also apply to her and not just those moving into care in the future
Both paid full tax and NI but seem to be being penalized - esp given some people in mumās care home are having all fees paid and never saved a penny in their lives 
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I donāt understand why this tax hike is even remotely necessary. As we all know, by doing Brexit our Tory overlords can put Ā£350m more per week towards the NHS.
And if that doesnāt solve the problem then we can always go back to clapping and banging our pots and pans at 8pm on a Thursday.
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Seems also from Mrs C_S and Mumsnet the extra cash is only to fund medical care not accommodation costs - so itās not going to do what Johnson is implying- will be interesting to see the detail.
This is the thing - your parents didnāt pay into the system to look after themselves - they paid into the system to look after their parents - the govt finances are a massive Ponzi scheme
Another way to look at it is to say that many years ago family took their elderly parents in and looked after them until they croaked and then rightly inherited all of the loot. Then the old buggers started to hang around until their 80s and 90s and the prospect of having them in house for 20 years became less attractive. So instead we outsourced the care to the care homes and the payment for that should be the wealth that the parents accumulated. It certainly shouldnāt be some poor young nipper who has just lost another 1.25% of their income so middle England can get their paws of a couple of hundred grand
Hardly. They were all dead before I was born. Either no NHS or a fledgling NHS not able to do what they can today
As to the rest of your post. What a load of complete and utter selfish bullshit. The government has made it the case that people can largely not live locally and earn enough to keep a family and folks. I genuinely donāt get why you think everyone seems to be out to grab as much inheritance cash as possible.
Iām saying the taxpayer shouldnāt pay for care if you can afford to pay for your own
You are suggesting the tax payer should pay for care to that you can inherit some cash
How am I being selfish
I am going to buy my dads house let him spend all the money and then put him in a home.
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I think there is a fairer approach - after all, although āits a Ponzi schemeā, it does not alter the fact that our NI is āmeantā to be a national insurance to pay for healthcare and our own social care provision. Most people pay a full whack in over 40+ years and also save so they have something for their kids and grandkids to benefit from. Donāt forget we also pay death duties, a double tax on that accumulated saving/wealth.
For me the alternative IS more fair. That you donāt contribute until after say the amount in which inheritance tax kicks inā¦ The reason why we dont seem to ever get this right is simply because the tax system is so heavy skewed towards the wealthy, and their ability to avoid tax.
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As a 28 year old it does feel quite galling to have to pay 10% more NI on an already very high marginal tax rate once you factor in student loan etc.
I havenāt checked the maths but pretty sure this pushes my marginal tax rate up to almost 50% when Iām pretty damn sure that I wonāt get a state pension in 40 years anyway.
Highly regressive taxation that doesnāt affect those over pension age really isnāt a good look - maybe the Tories have just written off my generation as all being lefties anyway?
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Some of us have been there - student loan is the bigger pain (although it is a burden that should be shouldered). What is the student loan rate now (we paid 9% over Ā£15k I think)?
There will pretty much have to be a state pension otherwise there will be a lot of old people on the streets, especially with the difficulty of buying property these days.
The problem is with national insurance is that it never kept up with the demands place upon it - yes you have contributed for 40 years but not enough, not nearly enough
If people were still dying at 70 and medical care didnāt have revolutionary treatments costing Ā£100k s keeping people alive for longer then then money we put in would probably cover our nhs and social care cost. But we have, thankfully moved on. Unfortunately the NI didnāt
National insurance probably need to be another 5% and ringfenced away so that whatever govt of the day canāt go raiding it when their economic policies go to shit
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This. Mostly. Sorry I am going full on here.
Revolutionary advances have eradicated some diseases and kept others at bay for longer, sometimes much longer. All of this is expensive.
And yet, despite this and much better information and education, the incidence of major diseases in the first world countries is on the increase. Cancer, stroke, heart disease, tumours etc. Lifestyle, processed foods, chemicals all around us and in products, alcohol, smoking, emissions and air quality - take your pick from many human factors.
In short we do a great job of killing ourselves and / or making ourselves very ill. Itās bloody hard to fund that.
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Itās still 9% - itās just that the threshold you pay it above is a bit higher for those on the Ā£9k a year fees (I was last year of cheap fees).
The real kicker talking to a mate doing a similar job is that he pays 4.2% interest on his Ā£50k+ of loans (compared to my 1.1% on Ā£15k) so he only started making a dent in the principal once he was earning over Ā£65k or so.
Heāll pay it off within the 30 years but most have no bloody chance - the old fee plan is actually very doable; even with no promotions/pay rises I think mine are done by 32 years old by which time Iāll have only been working for 9 years