Social care should be funded by the over-40s through a National Insurance-style savings scheme, a powerful group of MPs say today.
People would start paying into the scheme at 40 and continue once they are 65, with the money set aside to cope with the growing demand for elderly care, according to the housing, health and social care committees.
In a rare joint report the group also called for an extra inheritance tax charge on large estates to help anyone who needs long-term care but may not be able to afford it.
Council tax bands should also be revised, with the extra money raised being spent on the needs of older people, the MPs said.
The suggestions come amid a growing funding crisis in social...