Commenting on the Queen’s Speech today, Royal London’s Director of Policy Steve Webb said:
“The inconclusive election outcome means that difficult issues like the funding of social care have once again been kicked into the long grass. Individuals hoping to plan ahead how best to meet their care costs have been left in limbo. No-one can know with any certainty how much they might have to pay for their care, how much the government will contribute and whether they will have to sell their home. But the lack of a government majority could be an opportunity to seek cross party consensus on social care funding, so that a system can be put in place which will resolve these issues once and for all and give clarity to families wrestling with these complex issues”.
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About Royal London:
Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £117 billion, 8.8 million policies in force and 3,745 employees. Figures quoted are as at 30 June 2018.