Budget 2013: £72k care cap confirmed

The Budget 2013 announcement brings the cap spending plans forward by 12 months and is £3,000 lower than the originally proposed £75,000. Osborne said: "Helping with aspiration also means helping those who want to keep their homes instead of having to sell it to pay for the costs of social care. That's what our new cap will deliver - as Andrew Dilnot recommended." "It'll also come in in 2016. It will be set to protect savings above £72,000, and we'll raise the threshold for the means test on residential care from just over £23,000 to £118,000 that year too. "For decades politicians...