Yesterday marked the first day the Welsh Government confirmed the rise in capital limit from £24,000 up to £50,000 during the current Assembly term which runs until 2021. The limit was raised to £30,000 last April and from yesterday the limit will be £40,000.
This capital limit in Wales is the highest in the UK. Social Care Minister, Huw Irranca-Davies said:
“This is another firm example of this Welsh Government delivering its commitments to the people of Wales.”
In England, people with capital and savings above £23,250 have to fund all of their own residential care. Since the increase last year, a total of 450 people have already benefitted from the increase, with another steady increase in this number expected. There are up to 4,000 care home residents in Wales who pay for the full cost of their care.