A new tax for the over-40s in England should be introduced to help pay for social care.
A report published on Wednesday by Parliament’s select committees warns the current funding system is "unsustainable" and has called for the introduction of a
The primary aim of the proposed system would be to ensure the personal element of social care is eventually available free at the point of delivery to everyone who needs it.
The committee proposed that money raised would be held in a dedicated and audited fund to reassure the public it would only be used to provide social care.
Proposed payments of the extra tax would start at the age of 40 and extend beyond 65 with those earning more making bigger contributions.
The news comes only days after Theresa May announced £20 billion in extra funding for the health service.
The current system is in critical condition.
Clive Betts MP, Chair of the Housing, Communities and Local Government Committee, said: "The social care system is in a critical condition and there is an urgent need for more funding both now and in the future to ensure people are properly looked after. While we have set out steps to ease the financial pressure on local authorities delivering the service, reforms at a local level will not be enough if we are to rise to the challenge of providing high-quality care for all those that need it.
"We heard during the inquiry that people would be willing to pay more if there was an absolute guarantee that the extra money would go on social care. Given the huge funding gulf, the Government should now take the opportunity to build both a political and public consensus around the need for a new Social Care Premium to secure a fair and sustainable system in the long-term.
"The Government must also consider social care in its wider context and ensure a proper joined-up approach with other services such as public health and housing."
Too many people are left without the care they need.
Sarah Wollaston, chair of the Health and Social Care Committee, said: "We can no longer delay finding a fair and sustainable settlement for social care. Too many people are being left without the care and support they need and it is time for decisions to be made about how the costs are shared.
This report from MPs across the political spectrum also draws on the informed views of a Citizens’ Assembly in setting out our recommendations to Government. Doing nothing cannot be an option."