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Aegon calls for higher priority on social care and housing policies

11 January 2018

Aegon has called for higher priority on social care and housing policies after the Cabinet reshuffle, stressing they are long-term issues which should not be sidelined by Brexit preparations.

Following this week’s Cabinet reshuffle, with social care and housing added to Secretary of State titles, Aegon has called for heightened priority for these areas, citing them as “hugely significant areas which will affect all of us for decades to come”.

Steven Cameron, Aegon’s Pensions Director said: “This Cabinet Reshuffle should herald a change in the Government’s priorities for social care and housing policies, which now have a better chance of making it to the top table alongside Brexit preparations.

“Providing high quality social care and finding a sustainable way of funding it needs tackled without delay and will affect all of us long after Brexit is done and dusted. We welcome its explicit addition to the Health Secretary’s job title and urgently need a clear picture of how the growing costs of an ageing society will be shared between the Government and individuals who will then be able to plan ahead with greater confidence.

“This needs to link into broader pension policy and how people are encouraged to save for retirement. As for an increasing number of us, part of our later retirement will be spend in receipt of social care.

“The Government had already signalled its intention in its recent Budget to use Housing Policy to win over younger voters with the cut in Stamp Duty for first time buyers. There’s much more which can be done to address housing affordability and supply. We’d like to see stamp duty concessions extended to those approaching retirement who might consider downsizing to supplement their pension funds, with the bonus of freeing up larger family homes for younger generations.

“We look forward to greater Government focus on both social care and housing policies and would urge collaborative working with Esther McVey the new Work and Pensions Secretary. These are hugely important long term issues which mustn’t be sidelined by Brexit preparations.”

 

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