Changes to the personal injury discount rates
For the first time since 2001, the personal injury discount rate has been changed.
Lord Chancellor and Secretary of State for Justice, Elizabeth Truss announced today that the rate will be slashed from 2.5 per cent to -0.75 per cent.
The news will be welcomed by campaigners for personal injury claimants who stand to receive substantially more compensation.
The Association of Personal Injury Lawyers, which has long campaigned for a reduction in the rate, has said that the decision of Liz Truss, the Lord Chancellor, was in the best interest of injury victims who might require life-long care.
‘We hope this decision marks a long overdue turning point towards treating injured people fairly and with understanding,’ said the organisation.