Category Archives: Budget

Finally a focus on social care…?

440x210_care_home

As a Surrey resident working for Age UK, I felt quite confused and conflicted about how to vote in the prospective local referendum on a 15% council tax rise. On one hand, I really wasn’t happy about a huge hike in my bills but on the other hand through my work I am acutely aware of the enormous funding gap that has opened up in recent years between social care budgets and the growing number of people needing care and support. I felt grudgingly supportive of the leader of Surrey Council, David Hodge’s radical stance but not desperately keen on his solution.

Continue reading

Social Care and Budget 2017

So the mood music in advance of the Budget was roughly correct: we have an emergency injection of funds to keep the social care show on the road plus a longer term Government review, in the form of a Green Paper, to develop a new sustainable funding approach. Whether the rescue package will turn out to be enough to persuade providers who are wobbling to stay in the market, or allow councils to do a better job at meeting rising demand over the next couple of years than they have over the last few remains however to be seen. Continue reading

Lifetime ISAs – saving for the future?

The Chancellor of the Exchequer George Osborne

The Chancellor of the Exchequer George Osborne

George Osborne’s 8th Budget was presented as a ‘budget for the next generation’ acknowledging the hopeless situation too many young people find themselves in: struggling to find work, or being in work but struggling to earn enough to cover the daily costs of living. For these young people saving for a home is a priority that often feels like an unattainable ambition, so finding some spare money to put into a pension becomes an almost laughable pipe dream. Continue reading

The Budget 2015 – Age UK reaction

The Chancellor of the Exchequer George Osborne

The Chancellor of the Exchequer George Osborne

The Chancellor, George Osborne, has this week announced the Budget for 2015/16. Mike Smith, joint Head of Public Affairs at Age UK, looks at how the Government’s proposals will affect older people. 

Yesterday afternoon the Chancellor, George Osborne, stepped up to the despatch box to deliver the final Budget of this Government. This was always going to be a highly political Budget, with one eye firmly focussed on the election which is now just seven 7 weeks away. At Age UK we were looking out for announcements most likely to impact on older people up and down the country, as well as what was ‘missing’ – proposals we have been calling for which may not have been included.

So what was the main announcement in the Budget affecting older people? The most significant budget announcements for many older people are the pensions reforms for those who have already taken out an annuity. This follows the radical reforms to private pensions set out in last year’s Budget. This time around, the Chancellor announced that from April next year pensioners who already have a pension annuity will be able to sell their annuity income to a third party. This is likely to be welcomed by many older people who have taken out an annuity and feel they may have missed out on the reforms which come into effect in April.  Continue reading