Liberty Talks Finance podcast 6 – Chris Webb discusses the autumn budget of 2021, with a focus on social care

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The sixth episode of Liberty Talks Finance covers the social care aspects of the Autumn Budget.

The autumn budget included provisions for social security and care. This is through various methods, with the key announcement being an increase in National Insurance. Chris Webb, Chartered Financial Planner at Liberty Wealth Management, discusses the benefits or downsides for differing groups.

Chris takes us through the following points –

  • National Insurance history.
  • How is it calculated?
  • Who pays?
  • Who do we pay?
  • Where does the money go?
  • What is the increase for National Insurance?
  • How does the new health and social care levy impact the payment?
  • What is the increase?
  • How will the payment affect our life?
  • What is the cap and how does it work?
  • How does this affect dividend tax?

The podcast includes wider points and discussion around future planning –

  • Thinking about social care needs and financial planning.
  • Planning for the future.
  • Costs and complications of retirement and care.
  • The benefits of Intergenerational wealth management.
  • Approaching Inheritance Tax.
  • How does state care and benefits provide?

For more information, see our news articles; Who pays for social care? and Lessons for an ageing world.

Listen or download the seventh Liberty Talks Finance podcast – Lauren Sorenson discusses the impact of Intergenerational Wealth Management.

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