The Ministry of Justice has issued a Call for Evidence on 'Setting the Personal Injury Discount Rate'
The Civil Liability Bill has yet to receive Royal Assent, but this is expected to take place in the near future. Although the official process for the first review of the personal injury discount rate as set out by the Civil Liability Bill has not commenced, the Call for Evidence is a positive move.
The Ministry of Justice confirmed that issuing the Call now will ensure that "the relevant data and information is available in time for the first review to take place within the timescales proposed under the Bill, the Ministry of Justice has decided to issue this call for evidence before the Bill is enacted."
The Call for Evidence invites responses and evidence on the following issues of relevance to the setting of the discount rate:
- Investments available to claimants
- Investment advice provided to claimants
- Investments made by claimants
- Taxation
- Inflation
- Investment management costs
- Model investment portfolios
- Other considerations
The deadline for submission is 30 January 2019, and we will provide further detailed commentary in due course.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.