Discount rate – two bills announced and rate change expected in medium term

This morning the Lord Chancellor issued a regulatory news story (RNS) to the Stock Exchange which confirms that new draft legislation will be brought forward to re-set the current personal injury discount rate of minus 0.75%.

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“The Ministry of Justice pursued an overly ambitious and high risk strategy anyway”

The history of Government-led IT projects is hardly sparkling. Today’s report from the National Audit Office provides another example to add to the long ‘room for improvement’ column. The NAO examined the history and delivery of an offender tagging project and reached the conclusion that forms the title above. It also added that the Ministry’s approach was “not grounded in evidence, and failed to deliver against its vision.”

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Further clues about the discount rate?

Just after the election result in a blog dated 9 June I referred to “a much-changed form of political calculus” because of the hung Parliament. A subsequent piece suggested that the Queen’s Speech – passed in the Commons yesterday, 29 June – might offer a clue about legislation on the personal injuries discount rate. Some recent Government developments seem to connect both those comments and are explained in the body of this post.

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