Are you ready to pay an age tax to help fund adult social care?
Former health secretary Jeremy Hunt has told the Prime Minister he has a “now or never” opportunity to get the public behind a new tax to fund adult social care. According to Hunt, the idea would follow the example set by Japan and Germany, where a small tax was levied on the over-40s, rising as you get older.
In this video, why proposals for an age tax to help pay for our elderly might be the best solution to an almost unsolvable problem.
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Martin Bamford is a Chartered Financial Planner, Fellow of the Personal Finance Society and Director of Client Education at Informed Choice.
He’s author of three bestselling personal finance books:
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Brilliant Investing: https://amzn.to/34xIdZJ
How to Retire 10 Years Early: https://amzn.to/2HEtxPq
Martin is a co-author of Harriman’s New Book of Investing Rules: https://amzn.to/3oz6KFJ
Martin is responsible for investment management research at Informed Choice and is our media spokesman. He is the host of the popular Informed Choice Radio podcast: https://icradio.co.uk/
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The guidance contained within this video is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
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