Discount rate for personal injury claims reduced

The Ministry of Justice has laid down a statutory instrument in parliament to change the discount rate applicable to personal injury lump sum claim payments to minus 0.25% The previous discount rate was set at 0.75% by then Lord Chancellor Elizabeth Truss MP in 2017. In light of the decision, which has come following a call for evidence and statutory consultation with the government actuary and HM Treasury, Chancellor David Gauke MP said in a statement: ‘A new framework for setting the rate was established by the Civil Liability Act 2018. It makes clear that claimants must be treat...