All the above ideas are very worthy and kind hearted but the practicalities of such policies have to be paid for. Each of the left wing parties Labour, Lib Dem, Green and so on have a way to pay and that is the asset or mansion tax.
The idea is that any one who owns assets, including a house (which cannot be hidden), will pay between one and five per cent ( or more) of its value every year in tax. The asset tax would probably start at one per cent to get everyone on board and then escalate quickly once it was up and running.
It’s very easy to work out what you would pay. If you have a house worth £200,000 you’d pay extra tax at the following rates:-
One per cent - £2000 per annum
Two per cent - £4000
Three per cent - £6000
Four per cent - £8000
Five per cent - £10,000
Of course, that would be a lot of money to some people, but the idea is to defer taking some or all of it until the householder dies or goes into care and then it is taken from the equity in the house. So after ten years, if the householder goes into care, the government gets £100,000 of what the house is worth at a five per cent rate and after twenty years they own the house.
Think what the government could do with the money!
N.b. The Conservatives would probably not reverse such a policy were it once up and running. Indeed, they couldn’t, as they’d have to fill the gap in spending from somewhere else.