Show me the ... evidence!Dec 20th, 2017
The Justice Committee’s ‘Pre-legislative scrutiny: draft personal injury discount rate clause’ concluded:
It is legitimate to consider changing the assumptions made when setting the discount rate better to reflect “real world” behaviour, but the evidence currently presented by the Government concerning claimant investment behaviour is thin. Further evidence is required on this point. But there is ample evidence that the rate ought to be reviewed and set regularly, and we are convinced of the merit of an expert panel to assist the Government, with some fine adjustment of the process.
I would like to think that my final submission to the Committee helped to highlight the lack of evidence to support the proposed changes; a copy of which can be seen by clicking here.