The great rate debate.
The long-running saga concerning the level of discount rates, which judges use to cut the lump sum damages given to claimants, finally looks to have reached a plateau. Nick White traces the progression of the legal argument through to the present agreement.
On 25 June 2001, the Lord Chancellor finally set a discount rate of2.5% to be applied to awards of damages for personal injury. In publishing
his reasons behind the setting of this rate, he made
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