THE UK Government is reported to have panned to extend more support for the elderly in England through inheritance tax. The issue of social care has been neglected by successive governments, leading to an unfair system that has seen people selling their homes and losing nearly everything they have worked for to pay for their care. These historic reforms will give everyone the protection they want in their old age.

The amount any individual pays for care in old age will be capped at 75,000 pounds ($118,000) before the government steps in when the measures come into force in 2017. People with assets of less than 123,000 pounds will receive help sooner. The government's aim is to encourage wealthier people to take out insurance or use pension products to cover the 75,000-pound cap. The extra cost will be partly funded by extending a freeze for three years until 2019 on the level at which people start paying inheritance tax on estates at 325,000 pounds.