Discount rate

richardcropper Feb 28th, 2018

The Ministry of Justice has provided an update with regard to the response to the Justice Committee report in respect of the discount rate. Rory Stewart OBE MP, Minister of State for Justice, has written to Bob Neill MP, Chair of the Justice Committee, on 20th February 2018 as follows:

I am writing in relation to the Justice Committee’s recent report on the Government’s draft clause on the personal injury discount rate which was published on 30 November.
I am extremely grateful to the Committee for the prompt and thorough consideration which it gave to the contents of the draft clause. I am sorry that it has not proved possible to publish the Government’s response to the Committee’s report within two months of its publication. We are considering the Committee’s recommendations very carefully, and want to ensure that we provide a full and detailed response to the important points that the Committee has raised. I can assure you that we intend to publish a substantive response to the report as soon as we possibly can.

In the event that the full and detailed response is not published in the near future, it would seem that the current discount rate might well prevail for a longer period of time.