CHARGING FOR RESIDENTIAL ACCOMMODATION GUIDELINES

That this House notes with concern that independent savings accounts and savings in personal equity plans which are created with the specific purpose of paying off a mortgage are taken into account under the Department of Health's Charging for Residential Accommodation Guidelines as capital; further notes that this creates a disincentive for prudent financial management and is a cause of severe and unexpected financial hardship to people in vulnerable circumstances; and urges the Government to re-examine its guidelines with a view to protecting people.