The inquiry is the first to be launched by the Health and Social Care Committee following the appointment of its new members.
Chair of the Health and Social Care Committee, Layla Moran MP, said: ‘Our social care system is in crisis. Over the years there have been many reviews and proposals, but successive Governments have failed to tackle the problems, because they think reforms cost too much.
‘But this ongoing inaction has a cost. No one is talking about the costs we are all accepting by not reforming the system. A cost to patients and their families, a cost to the NHS, a cost to our local authorities, and a cost to the wider economy and the Treasury.
‘This inquiry will investigate just how much the ongoing inaction on social care reform is costing us all.'
It has been estimated that 161,000 hours of homecare could not be delivered between January and March 2024 because of staffing capacity, and in 2023 there were approximately 250,000 people waiting for a care assessment in England.
A Department of Health and Social Care spokesperson said: ‘This Government is determined to tackle the challenges facing adult social care and build a National Care Service so everybody can access the high-quality care they deserve.
‘We have already taken a critical step by introducing the legislation that will establish the first ever Fair Pay Agreement for care professionals to improve recruitment and retention.
‘To support our unpaid family carers, from April 2025 we will increase the Carer's Allowance weekly earnings limit from £151 a week to £196 – the equivalent of 16 hours at the National Living Wage.
‘We want to build consensus across party on the long-term reforms needed, and we welcome the Health and Social Care Select Committee's inquiry into this important issue.'