Telegraph cartoonist Matt on Theresa May’s dementia tax

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Posted by Ali Ben-Mussa on Monday, May 22, 2017

Journalists destroy Theresa May over Dementia Tax

This video footage from a Theresa May press conference has been viewed over 3 million times on Facebook.

Theresa May destroyed over dementia tax

Posted by The Independent on Monday, May 22, 2017

 

Theresa May’s ‘dementia tax’ triggers Conservative backlash

From Financial Times: Theresa May is facing a growing Conservative backlash against her plans to reform funding for social care, with critics claiming she is introducing a “dementia tax” that could amount to a 100 per cent inheritance tax rate for core Tory voters.

[Read full article on Financial Times website…] (paywall, but free registration allows access to one article per month)

“Theresa May has complacently betrayed the Tory core vote”

Blog article from Another Angry Voice: “The Tory Dementia Tax is surely one of the nastiest and most ill-conceived pieces of legislation to ever appear in a General Election manifesto.

“It just goes to show how arrogant and out of touch the Tory party are that they thought they could get away with announcing such a malicious scheme to asset strip elderly people for the ‘crime’ of developing dementia or serious physical disabilities in their old age after lifetimes of paying National Insurance and Council Tax to cover the cost of things like the NHS and social care.

“Setting the bar at £100,000 when the average property price in the UK is £215,000 is clearly a way of harvesting the wealth of middle income families.

“The poor won’t have to pay it because they won’t own their own homes. The very wealthy won’t have to pay it because they can pay for private care in their old age. So it’s just the middle who get asset stripped. The people who worked hard and saved to buy their own properties are the low-hanging fruit the Tories have identified. They’re the target this time.

“Dementia Tax is clearly an inheritance tax specifically to extract the wealth of middle income families as they get ill in their old age, so that the Tories can continue lavishing tax breaks on the super-rich and their corporate chums (like the £70 billion that the ongoing Tory corporation tax cuts are going to cost by 2020).

“Dementia Tax is a clear and demonstrable attack on the Tory party’s own core support.”

[Read full article on Another Angry Voice blog…]

Tories plan to axe state pension “triple lock” from 2020

From ThisIsMoney.co.uk: The Tories will axe the ‘triple lock’ guarantee from 2020, meaning older people could eventually get smaller annual state pension rises if Theresa May wins the election.

The Conservative Party would switch to ‘double lock’ increases in three years’ time, so the state pension would no longer rise by a minimum of 2.5 per cent each year, but by whichever is the highest of inflation or annual earnings growth.

Labour and the Liberal Democrats have promised to keep the triple lock for the whole of the next parliament. But the newly-released Conservative manifesto says: ‘We will keep our promise to maintain the Triple Lock until 2020, and when it expires we will introduce a new Double Lock.

[Read full article on ThisIsMoney.co.uk…]

Poorest face ‘double whammy’ if Tories ditch triple lock on pensions

From The Observer: Plans to ditch the triple lock on the basic state pension would represent a “double whammy” for the poorest pensioners, many of whom have already lost out under this month’s new flat-rate pension, according to a leading pension expert.

Pensioners who rely on the state pension for most of their income will be the biggest losers should the Tories drop the element of the triple lock that guarantees annual rises of at least 2.5%.

Chris Noon, a partner at leading pensions consultancy Hymans Robertson, said linking increases to earnings growth or inflation would, over time, erode the value of the pension and push larger numbers of people into poverty on reaching retirement age. He said: “The low paid were the community most negatively affected by the significant changes to the state pension introduced from April 2016. Removing the 2.5% minimum increase … is a double whammy that would again impact this community hardest over the medium to long term.”

The flat-rate state pension, worth £159.55 a week, combines the basic state pension with pension credit and the state second pension, which previously rewarded low-paid workers with generous top-up payments. Estimates put the savings at £8bn by the end of the parliament. Ending the triple lock would come on top of this cut.

[Read full article on Guardian website…]