The typical person entering residential care will face total bills of between £50,000 and £93,000 depending on where they live, according to analysis by Royal London.
Variations in house prices around the UK mean that this could amount to anything from 18% to 56% of the value of the average house. Steve Webb, director of Policy at Royal London said: "Successive governments have failed to grasp the nettle when it comes to care costs. For over 20 years we have had a series of Royal Commissions, expert reports and policy papers, but little has changed." In the recent Budget, Chancellor Phillip Hammond announced that a new Green Paper into social care would be published later on this year and pledged there would be no ‘death tax' i.e. no posthumous l...
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