If they sold for the average £254,000 price of a three-bedroom semi, collectively they would have raised £4.3billion last year, it was said. The cost of residential care has shot up and is now more than £33,000 a year. But anyone with more than £23,250, including their home’s value, is denied state help. The Daily Express has led a crusade to end this injustice for the elderly.
The figures, verified by charity Independent Age, are based on Department of Health data, indicating that 30 percent of those who pay for their care have to sell their homes.
The research assumes the average stay is 2½ years, as found in a study by the Personal Social Services Research Unit and Bupa.
On his first day in No 10 in July 2019, Boris Johnson vowed to end the crisis “once and for all”.
Liz Kendall, the shadow minister for social care, said: “This must be an absolute top priority for the Government. People who have worked hard and saved all their life have seen their savings wiped out.”
A Department of Health spokesman said: “We have committed to end the injustice that some people have to sell their homes to finance care while others don’t. We know there is a need for a long-term solution and are looking at proposals.”