The Bank of England held interest rates steady this week even as a recent spike in energy prices raised fears of a fresh inflation shock, leaving households uncertain about the outlook for borrowing costs.
The decision came as social care funding returned to the political spotlight. Andy Burnham has pledged to fix what he called a “dereliction of duty” by a generation of politicians who left the system broken, though questions remain over who will bear the cost of any reform.
Burnham’s plan faces the same obstacles that have defeated successive governments. Critics note the current system functions as a reverse lottery in which the unluckiest people can see their wealth wiped out by care costs.
The topics were discussed on the July 31, 2026 episode of the This is Money Podcast, hosted by Georgie Frost, Helen Crane, and Simon Lambert.
