How does someone in Redcar, where the average house price is £133,000, or Bishop Auckland, where it’s £125,000, realistically raise the £86,000 without selling their house? I think most people would say ‘of course I’ll have to sell my house to pay that kind of money’.
You must defer payment to have it removed from your estate at the end of the exercise. If your house is worth £133,000 and you take £86,000 away, you are essentially robbing people of a significant portion of their inheritance.
It is a complete betrayal of the people of the Northeast who took the government at its word, only to learn that when they gave their word about not raising taxes, they didn’t keep it, when they gave their word about building new hospitals, they didn’t keep it, and now we know that when they gave their word on social care, they didn’t keep it. It’s a series of broken promises in the Northeast.