Age UK have released a statement showing what they want to be included in the budget. It covers a few key areas and details are below.
A budget for growth
To support private sector growth, Age UK recommend four separate policies. They believe that these will help business respond to the opportunities that the growing number of older consumers represents:
- Do something immediately to improve tax arrangements for people with small pension pots
- Encourage an industry-led initiative to help companies take advantage of rising demand from the growing number of older consumers
- Restart the debate about regulating age equality in financial services
Long-term reform
The Government has already made some announcements around reforming key areas in public life. Age UK want part of the reform to focus on social care and state pensions.
State pensions
- Introduce a generous, near universal flat-rate state pension
- Look again at the speed of change in the State Pension Age
Funding care and support
- Commit to reform care fund and introduce legislation in 2012
- Reassurance that payments for older people to cover disability costs will continue and will not be means-tested
- Support the principle of care-funding ‘partnerships’, allowing society and individuals to contribute part of the costs.
Tax and spending
Following last year’s tax and spending announcements, Age UK recognises that changes are going to be limited. If there are any alterations, they want age equality to be taken into account and ensure that older people on low incomes benefit.
Cuts to social care
- Allocate extra resource to this year’s social care budgets to prevent avoidable risk to life and health
- Increase the 2012-13 adult social care funding allocation and ringfence this money
- Review how local social care funds are allocated and prove that they are targeted appropriated and will achieve the necessary impact.