McCarthy: Government needs to act

Posted on September 1st, by editor in Caring Times. No Comments

Retirement housing chief John McCarthy, of McCarthy & Stone plc, says it is time to take a radically different view of housing for elderly people. Thousands of families with elderly parents are losing out on their inheritance because of the Government’s outdated attitude to property ownership. Home owners who have spent a lifetime building up their assets see it eaten away by the costs of converting and running an unsuitable house, or by fees to a residential home. To make things worse, no action whatsoever has been taken on a Royal Commission on long term care published six months ago after a year of deliberations. the report just seems to be gathering dust – they have shown a disgraceful disregard for one of the burning issues of our time. With almost two in every three pensioners now owning their own home, the Government should be looking at ways to help them preserve their equity for the next generation, yet its refusal to modernise means their savings are soaked up by taxes and unnecessary costs. While

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