Wednesday, September 6th, 2017

Government Response to Consultation Paper 'The Personal Injury Discount Rate'

Government Response to the consultation paper “The Personal Injury Discount Rate – How it should be set in future”

Published 7th September 2017

The government has now published its response to the consultation on the discount rate. Legislation will be introduced “as soon as parliamentary time permits” which will change the basis on which the rate is assessed. In future the rate will be based on the return from a low risk diversified portfolio, rather than the current very low risk ILGS.  The rate will be set by the Lord Chancellor (the Scottish Ministers in Scotland) on advice from an panel of independent experts.

Once the legislation is introduced a review will start within 90 days and be completed within a further 180 days.  A new rate will then be set.  Current predications are that this will bebetween 0% and 1%.

The full response can be found here.

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