Market failure in the Tory Manifesto

"So people will be left helpless, knowing that what will happen is that if they are unlucky enough to suffer the need for care costs they will be entirely on their own until they are down to the last £100,000 of all of their wealth including their house,” he said.
“I do feel very disappointed for all of us, the millions of people who are very, very anxious about this, and I’m a bit surprised, because what social care is is a classic example of a market failure where the private sector cannot do what’s needed.”
Dilnot said the idea ran counter to Theresa May’s promise that the state would step in when markets were broken. “This was an absolute open goal for that kind of approach and it seems to have been missed,” he said, adding that the plans would help some people but leave the majority of those being cared for in their own homes worse off."