£12,000 levy in return for free elderly care
Author: Daily Telegraph - Jun 14, 2009
The one-off "inheritance levy" would either be deducted from the estates of older people in England and Wales when they die, or paid on retirement.
The aim is to replace a system that forces many pensioners to sell their family homes to fund huge nursing home bills.
A Government green paper on long-term care, published this month, contains a series of proposals to help cope with the growing demands of an ageing population.
Despite fears the levy could be seen as a new stealth tax, Downing Street is understood to favour the idea.
Aides have tested the plan in focus groups and estimate that up to 80 per cent of people would choose to opt into a state insurance system for a premium of between £10,000 and £12,000.
Respondents said they would rather pay this sum than risk losing their homes and savings, together with their children's inheritance, if they develop Alzheimer's or another chronic disabling condition.
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