next April, is expected to raise an additional £12 billion each year, which will be initially devoted to slashing waiting lists in the NHS. “Everyone knows in their bones that after everything we have spent to protect people through that crisis we cannot now shirk the challenge of putting the NHS back on its feet,” The Prime Minister told a Downing Street news conference.
Over time, a growing proportion of this additional revenue will also be directed towards social care, with the aim of ensuring no individual will have to pay more than £86,000 on total care costs through their lifetime. Under the new system, anyone with less than £20,000 in savings will have their care costs funded completely by the state, while those with less under £100,000, will also receive some state help.
Although the levy will apply across the UK, the proposed social care cap will only be enjoyed by patients in England. Meanwhile, health services in Scotland, Wales and Northern Ireland will receive an extra £2.2 billion a year, the government said.
According to PM Johnson the plan is expected to relieve people of the fear of “financial ruin” from “catastrophic” care costs. He added that although no Conservative government wants to raise taxes, the aforementioned cannot be met through borrowing.
