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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Discount rate & PPO legislation passes stage 1

The Scotland-specific legislation was discussed by the Parliament in yesterday’s Stage 1 debate on its general principles.  The Minister in charge, Ash Denham MSP, bookended the debate during which a number of points were highlighted for further scrutiny at subsequent stages, including moving the frequency of rate reviews to a five-year cycle.

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