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Government to cap long-term care costs at £75k

Government to cap long-term care costs at £75k

The government is to set the cap on long-term care costs at £75,000, rejecting as too costly the £35,000 level proposed by economist Andrew Dilnot, according to reports.

According to The Sunday Times, chancellor George Osborne (pictured) rejected Dilnot’s proposed cap, contained in a government-commissioned report into long-term care funding, due to the £1.7 billion annual costs.

A £75,000 cap will cost the government around £700 million a year. The cap would not cover the cost of paying for accommodation or food.

The government will set out its long-term care plans in its mid-term review, to launched this afternoon, together with its state pension reforms.

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