How does someone in Redcar, where the average house price is £133,000, or Bishop Auckland, where it is £125,000, realistically raise the £86,000 without selling their house? I think most people would say ‘of course I’m going to have to sell my house to pay that sort of money’.
You will have to defer the payment to have it taken away from your estate at the end of the exercise. If your house is worth £133,000 and you take £86,000 away, you are effectively depriving people of a significant amount of their inheritance.
It is a complete betrayal of people in the north-east who took the government at its word, only to learn that when they gave their word on taxes not going up, they didn’t keep it, when they gave their word on building new hospitals, they haven’t kept it, and now we know that when they gave their word on social care, they haven’t kept it. It is a string of broken promises across the north-east.