Plan to ban ‘private equity sharks’ from social care dropped, Wes Streeting says

It is understood that Wes Streeting would resurrect his plans for regulating private equity in social care in a future government. Photograph: Jack Taylor/Getty Images for SXSW London

Wes Streeting has said his plan to ban “private equity sharks” from the social care sector was removed from the Labour manifesto, as he accused the government of “overcautiousness” in reforming the industry.

In a Fabian Society report on how to create a national care service, Streeting said overhauling social care was “one of the defining challenges of our age” but an “absence of good political leadership” was holding back change.