People aged 40 and over could pay hundreds of pounds more in National Insurance in plans being considered by the Government.
The proposals, which have been labelled a new ‘dementia tax’, have been revealed by former Deputy Prime Minister Damian Green.
Mr Green told the Mail on Sunday: “More and more people are going to live to 100 and we must plan for it.
“The next generation or two will not have the same amount of money invested in homes so we should add maybe 2% in a compulsory National Insurance levy cutting in at around 40 years old – as they do in Japan – so your social care is guaranteed and you won’t have to sell off your house.
“Yes, it is a tough message but if for the sake of a couple of per cent on NI you can relieve people of the worry of what may happen at the end of their lives, it will be worth it.
“And it is fair: everyone pays for the NHS and no one minds that some people need it more than others. The same is true of my idea.”
The MP for Ashford, who was formerly a key ally of Theresa May, resigned from Government in December after admitting misleading comments about the presence of pornographic images on his computer.
The Government’s Green Paper on social care is due to be released this summer (see Social care Green Paper scheduled for summer 2018).