In Focus: Retirement Income  

The devilish details in the Queen's Speech

  • To understand the measures in the Queen's Speech
  • To be able to explain the need to tackle scams
  • To understand the issues of long-term care provision
CPD
Approx.30min

He says: “The lack of detail on social care reform may not be entirely surprising, given so many false starts, but it is disappointing.

"The ongoing challenges in care homes caused by the pandemic simply reinforced the urgent need for change and for addressing the inadequacies and inconsistencies in the current system."

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He has called for a commitment to introduce measures that will ensure clarity for people around the level of support they can expect to receive from the state, as well as what they will be expected to contribute themselves. 

"And of course with that comes the need for serious additional funding", he says, adding: "Without this, we will continue to see inconsistency and unfairness as people grapple with a complex system, unable to make any sort of financial provision or plan for their own futures or those of loved ones.”

Property development

The speech also cited two bills currently tabled that will help provide the much-needed new and affordable homes – a problem that was first set out clearly in the 2004 Barker Review of housing in the UK.

Her Majesty said: "My government will help more people to own their own home whilst enhancing the rights of those who rent.

"Laws to modernise the planning system, so that more homes can be built, will be brought forward, along with measures to end the practice of ground rents for new leasehold properties [Planning Bill, Leasehold Reform (Ground Rent) Bill].

"My ministers will establish in law a new Building Safety Regulator to ensure that the tragedies of the past are never repeated [Building Safety Bill]."

These statements were met with a measure of approval from those in the housebuilding and housing sector. Ritchie Clapson, co-founder of propertyCEO, was glad there was a recognition that "what the people in this country really need is more new homes".

He says: “Over the past year we’ve seen the government take huge strides towards making the delivery of new homes not only easier but substantially quicker, with the introduction of new permitted development rights.

"Not only have these been focused on recycling our redundant brownfield sites, but they have also enabled many entrepreneurs to transition into small-scale property development and start to deliver some of these much-needed homes."

He calls this latest statement a "positive" measure and urges parliament to "cut out the red tape that’s slowed us in the past".

“And then let’s get out there and build, build, build," he says.

Dr Kristian Niemietz, head of political economy for the Institute of Economic Affairs, expresses a more cautious tone.

Niemietz says: “On planning reform, the government is making the right noises. But we have heard this too many times before and, so far, attempts have always ended with a capitulation to Nimby [Not In My Backyard] interests.