Thousands of older Britons will have their lives put at risk if the government announces cuts to social care spending in next week’s Budget, one charity has claimed.
This could encourage a number of people to seek equity release advice to find out how the value of their home could help ensure they have a comfortable retirement.
Age UK has claimed that if government spending cuts are announced in line with expectations social care could end up with a £1.75 billion “black hole” in its funding.
Michelle Mitchell, charity director for Age UK, said: “The government must make sure the axe does not fall on the services older people rely on most.
“The chancellor has said he will limit the impact of cuts on the most vulnerable in our society. He should put his money where his mouth is and promise right now that care in old age will be protected in his spending review.”
Homeowners aged over 55 years who are concerned about the state of social care funding can find out how the value of their property could boost their retirement income with an equity release guide from Key Retirement Solutions.
Posted by Claire Ford
