The Dilnot report has recommended the cost of social care should be capped depending on an individual's assets.

The report, which was commissioned by the Government last year, has released a set of recommendations of how to improve the funding of care services in Britain.

If the recommendations are accepted by the Government, individuals would not have to pay more than £50,000 for a space in a care home or for a qualified social worker to come to their house.

The commission suggests that the state should cover any costs which rise above this figure, but made no suggestion as to how the Government would find the estimated £2 billion it would cost to do this.

BBC News report that other suggestions included a rise on the maximum amount of assets people are allowed to qualify for state-funded care, from £23,250 to £100,000.

Ministers and many experts in social care have urged the government to accept the recommendations when they meet to discuss the findings of the report.

Age UK managing director Gordon Morris suggested that the financial services industry had a big part to play if the recommendations were to be accepted.

He told The Guardian: "The Dilnot commission report delivers a clear call to action to the financial services industry to work with government to develop the innovative products needed to fund long-term care.

"Existing products, such as equity release and annuities, could present a solution, but far more has to be done to build flexibility into these products."