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Thursday, 4 September 2014

Raise taxes to reform care system

A report commission by the King's Fund think-tank is calling for a review of wealth taxation, including IHT, in order to pay for radical reform of the UK's care system.  The report recommends everyone over 40 and those on more than £42,000 should pay extra NI, and that pensioners who continue to work should be charged NI for the first time.  Wealthy pensioners should also be stripped of free prescriptions, free TV licences and the winter fuel allowance, potentially freeing up billions of pounds.  Dame Kate Barker, who chaired the report's panel, stated "if we are going to provide a decent society and decent care, we're going to have to find the money".

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