UK PM Theresa May backtracks on aged care ‘death tax’ after nine-point drop in poll lead

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The PM is now promising that a future Conservative government would put a cap on care costs, after an announcement to make more people use the family home to fund their aged care led her party’s lead over Labor to almost halve to nine points, according to the Sunday Times.

Under the new measures, people would have to foot the bill for their own care until they had £100,000 left in assets, including property. These costs would then be recouped after their death.

Ms May says that the Government will release a consultation paper that would include “an absolute limit” on the amount people have to pay for their care costs.

However, she didn’t say how much it would be worth.

As we reported here last week, the UK has no cap on aged care costs. Here in Australia, costs for the means-tested fee are capped at $26,041.09 for individuals a year with a lifetime cap of $62,498.66 for couples a year.

It’s a good deal. Should we be paying more too?