Discount Rate Decision Imminent

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24 July, 2017

It is expected that the government will make an announcement next month on whether it intends to revise the discount rate. The Law Gazette has reported that in a House of Lords debate last month, Conservative peer Lord Hodgson of Astley Abbotts said the Ministry of Justice will respond to its consultation on the issue by 3 August. Although, the Ministry of Justice website does not confirm this information.

The government launched a consultation into the discount rate in March 2017 with the aim of considering:

  • what principles should guide how the rate is set?
  • how often should the rate be set?
  • who should set the discount rate?

The paper also considers whether sufficient use is being made of periodical payment orders.

Forbes comment

As a decision is imminent, cases involving a large settlement should be postponed, if practicable, until the outcome of the consultation is known.

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