This afternoon the Government Actuary’s Department released an amended version of the Ogden tables which now includes the new discount rate of -1.75 for Northern Ireland. The relevant webpage of the GAD’s site explains that “Under the Damages (Personal Injury) Order (Northern Ireland) 2021, made under section 1 of the Damages Act 1996, the prescribed discount rate to be taken into account by the courts in Northern Ireland when assessing lump sum damages awards for personal injury was lowered from 2.5% to -1.75% with effect from 31 May 2021. As the tables of multipliers in the original 8th edition of the Ogden Tables are not tabulated at a discount rate of -1.75% updated tables have been issued. The text of the Explanatory notes has been updated and a number of other minor typographical amendments have also been made.”
Alistair Kinley, Director of Policy & Government Affairs, BLM
As we reported last week, the Committee for Justice has today opened a new call for evidence (CE) seeking stakeholders’ views on the legislation designed to re-set the legal basis for the personal injury discount rate (PIDR), the Damages (Return on Investment) Bill. The terms of the six questions posed in the CE are clear and responses are due by 30 April 2021. Our views on the principles involved are unlikely to have changed since the pre-legislative consultation conducted last summer but the CE provides an important opportunity to make submissions on the points of detail involved in the new legal framework for setting the PIDR in Northern Ireland.
Alistair Kinley, Director of Policy & Government Affairs
Although the Damages (Return on Investment) Bill passed its second stage in the Assembly at just after half past three this afternoon, the scheduling of its Committee stage remains unclear and contested. We have already written about the evident tension between the Justice Minister and the Committee that was all too clear in pre-legislative hearings and was again present in today’s debate.