07 September 2017
The Lord Chancellor and Justice Secretary, David Lidington MP, will later today lay draft legislation before Parliament to change the way in which the personal injury discount rate is set.
If enacted, the draft legislation will change the way in which the personal injury discount rate prescribed under section 1 of the Damages Act 1996 is set. Based on the evidence currently available the Government would expect that if a single rate were set today under the new approach the real rate might fall within the range of 0% to 1%, but the new framework will only apply if the proposed law is enacted and will not operate retrospectively.
Further details of the reforms will be set out later today on the gov.uk website.
https://www.gov.uk/government/news/reforms-to-compensation-payouts-announced