Social Care Funding

Diana Johnson Excerpts

Monday 11th February 2013 Commons Chamber

[Mr Hunt]

I can absolutely confirm that, yes.

[Diana Johnson (Kingston upon Hull North) (Lab)]

On the financial products that will be available, will the Secretary of State produce evidence so that constituents in Hull can find out what kind of figures we are talking about as regards their protecting themselves for the future?

[Mr Hunt]

I am making the announcement today, so we have to give the financial services industry some time to respond to the proposal. However, the indications are encouraging, and I think that we will all see, in plenty of time for the 2017 start of this plan, what products are available. There may be separate products, but it may also be something that becomes part of people’s pension planning. In the same way that people decide what arrangements they want in their pension for an annuity and for a lump sum payment, payment towards these costs up to the level of the cap may become another part of the pension plan. We need to let the pension and insurance industries have the time to respond and to come up with these plans.