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Property often has to be mortgaged to pay for care in later life.
Which means that there would need to be better public funding of that.
If we want to redistribute wealth we need something like a property tax.
And a guillotine.
NotThamesWater-
And a guillotine.
I'm listening...
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Property often has to be mortgaged to pay for care in later life.
We pay for social care for people without assets, the requirement to contribute is only if you have a lot of wealth. If you have an outstanding tax bill that can be taken off and if that means you are broke then you don't pay like now.
Right now if you own a million pound home you are left alone unless you get sick. I want all owners of million pound homes to contribute equally, regardless of their health good or bad fortune.
kl
jellybaby
Only if they have it as cash in the bank, which they mostly don't.
If we want to redistribute wealth we need something like a property tax. Perhaps payable annually or when you when you sell the property, owners choice, so the property rich but cash poor elderly can live in their home until death.