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Why are the authorities considering extra charges for elderly care?

Over the last few weeks it has become apparent that not only is the UK government looking at how to fund care for the elderly in future but all other political parties are currently considering this subject. It seems that political parties are determined to introducing some form of extra payment from those with savings to pay for their care when they get older. However, surely one of the reasons we pay our taxes is to receive a pension in later years and care?

The truth is that the UK benefits system is literally out of control and continues to grow and grow on an annual basis. The authorities are concerned about how they can limit the growth in the required benefits budgets in the future and care for the elderly is an area which is attracting significant attention. It is no secret that care in older life is becoming more and more expensive and because more and more of the UK population are living longer this is placing extra pressure on the benefits system.

In reality, no matter what each and every political party will have you believe, we will need to pay more towards our own care in later life whether this is a one-off charge from our assets or an increase in taxation liabilities. Unfortunately, there is no way around this issue.

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