Personal Injury Discount Rate and Periodical Payments Orders in Scotland: Damages (Investment Returns and Periodical Payments) (Scotland) Bill passes stage 3

On 19 March 2019, the Scottish Government Minister for Community Safety told the Scottish Parliament that she expects this Bill “to save defenders money”. This can perhaps be taken as a Scottish Government indication that the new Personal Injury Discount Rate (PIDR) for Scotland will be higher than the present -0.75% one. Given the prescriptive formula set by the legislation and to be applied by the Government Actuary, this government indication has to be treated with some caution.

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New discount rate due to be set by 5 August 2019

The formal and final part of the discount rate review in England & Wales started today, 19 March 2019, and must end by 5 August. The high likelihood is that this review, the first under the Civil Liability Act 2018, will deliver a rate different from and higher than the current minus 0.75% rate (which was set in accordance with the Damages Act 1996).

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