Government reviewing plans proposing over 40s pay more tax to help care for their own elderly care…

Towards the end of July, the Guardian[1] reported the government were reviewing plans proposing that those aged over 40 would have to pay more tax or national insurance to help care for their own elderly care.

We turned to our UK panel to find out reactions to the proposed plans. There was a lot of interest in the topic and over 1,500 of our panel members responded.

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Overwhelming lack of support

There was an overwhelming lack of support for the proposed plans, with over half the people voting on the poll (53%) opposing the plans (indeed 38% strongly opposing). Only 26% were in support, and the remaining were either neutral, or not sure.

Opposition to the proposed plans centred on a sense of unfairness and there was clear frustration at the idea that their existing contributions, which many deemed high already, were not enough to cover for social care when they are older. Those close to retirement were particularly resentful of the idea, concerned that they would be required to pay an extra tax when they should start to be on the receiving end.

“No, I worked for 50 years and paid my tax and National Insurance throughout. I have just retired having had to work 6 extra Years due to the pension age change, I am still paying tax on my private pension, having already paid tax on my earnings, really can they take any more!”

“Older people have paid into the pot throughout their working lives, on the basis that they would get the care they may now require. Changing the rules in retrospect would be totally invidious!”

Solutions to the dilemma…

Rather than asking workers to pay even more taxes, there were calls for fairer taxing of wealth and companies.

“To me the solution is to ensure big businesses pay their taxes. If all the Googles, Amazons etc. paid what they should, then you wouldn’t have these tax increases on individuals who have already been paying taxes for decades.”

“There is a huge “wealth gap” in the U.K… The government could gather much more tax if they closed the loopholes that allow many very wealthy people and businesses to avoid paying tax. Everybody has a social duty to pay their fair share, to contribute to our society.“

Social care in crisis

Social care has long been in crisis in the UK and a topic hotly debated. The plans for an over 40s tax for social care was a proposal under consideration as a potential long-term solution. But social care is a sensitive topic, where everyone has a stake in it, and any proposed legislation involving new taxes is likely to be met with considerable resistance. We will be watching this space for any new government proposals and going back to consult with our members. Stay tuned!

[1] https://www.theguardian.com/society/2020/jul/26/uk-ministers-looking-at-plans-to-raise-taxes-for-over-40s-to-pay-for-social-care

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