Analysts believe Prime Minister Andy Burnham has a ‘golden opportunity’ to offer older people better protection in return for weakening the triple lock guarantee on pensions. This ambitious proposal for a multibillion-pound new public service is likely to be funded by tax rises or by holding back increases in the state pension.
A Confident Promise
Burnham's colleagues are excited about the potential of a new social care system that has eluded seven previous prime ministers. One cabinet minister expressed confidence, stating,
“"I’m not worried about it because we have time to make the case."
David Cameron’s team is credited with coining the political metaphor of "pitch-rolling," which describes how leaders need to prepare the ground for their policies to flourish. This seems to be Burnham’s strategy as he introduces the idea of a system that would require more contributions from the public in exchange for better protection in old age.
Funding Challenges
It remains unclear how the prime minister intends to fund a service that could cost up to £18 billion a year, according to some estimates. Reform UK has already suggested that a “death tax” could be introduced to finance it. Economists have also proposed scrapping the pension triple lock to help cover the costs.
Labour strategists are optimistic that over the coming years, they can address all concerns and integrate the scheme into the party's platform for the next election. This approach aims to avoid the pitfalls of Theresa May’s abrupt social care overhaul during the 2017 election, which surprised voters and her own party with the proposal that those with over £100,000 in assets would have to pay for their own care.
