CALL US:

0800 0351 999

0239 2483 322

Compass House,
57 Meridian Centre,
North Street,
Havant,
PO9 1UW

e-mail:
enquiries@swaincohavant.uk.com
Expert Services
Expert Services
A quality personalised service from a law firm based in Portsmouth/Havant, Southampton and Liverpool. We can help you. We will provide free first advice. Our lawyers are specialists in their areas of work.
Our Team
Our Team
We have specialist lawyers, many of whom are recognised as leaders in their respective fields and also share our unique focus on quality service and putting our clients first. Click here to find out more about our legal experts.
Fees & Figures
Fees & Figures
We provide a number of payment options: No Win No Fee, Legal Aid, Monthly payments, Fixed fee payment and other options. Here you can learn more about our payment options.

Discount rate review will affect claimant damages

Discount rate review will affect claimant damages

Melanie Lidstone-Land, personal injury and medical negligence lawyer, comments on the discount rate review:

“Yesterday (15 July 2019) the Lord Chancellor announced that the Discount Rate would be amended to -0.25% from it’s previous figure of -0.75%.

The Lord Chancellor is also The Secretary of State for Justice and has oversight of all Ministry of Justice (MoJ) business. The current holder of the post is The Rt Hon David Gauke MP.  His specific responsibilities include:

  • Oversight of all portfolios and MoJ strategy
  • Resourcing of the department
  • Functions of the Lord Chancellor
  • EU exit and international business
  • Judicial policy including pay, pensions and diversity
  • Corporate Services

The Discount Rate is the way in which the final lump sum compensation payment to a Claimant is adjusted to reflect the interest that they would expect to earn when investing their damages.  It also reflects the effects of tax, expenses and inflation on invested damages.

Previously when the rate was -0.75% there were concerns that Claimants were being overcompensated, effectively people thought that the Discount Rate was too favourable to Claimants and needed to be reviewed.  This came after years of the Discount Rate being very heavily favourable to the Defendant.

A piece of legislation known as the Civil Liability Bill 2018, amongst other things, sought to review the Discount Rate and is said to provide a more balanced approach giving Claimant’s a fair amount of compensation.

The reality is that Claimant’s will feel a little “short changed” because their awards will not, now, be as high as they have been since 2017 when the rate was reviewed to -0.75%.

However, it is still very much in the Claimants’ favour and it is with huge relief that we are not back to the “bad old days” where it was virtually impossible to fairly and justly invest monies on behalf of Claimant’s to ensure a fair return.

You may see all over the popular press this week that Defendant’s feel Claimant’s are still over compensated and that the review of the Discount Rate does not go far enough.

My answer to that ………."Tough!"

Claimant’s get a rough ride with compensation claims, the damages are still lower than they should be and the system is still, in my opinion, unfairly favourable to defendants’.

I’ll take the -0.25 and go into battle….once again”


Melanie fights for her clients to ensure their voices are heard about the impact of injuries, both physical and psychological, from accidents that were not their fault and medical mistakes.

If you like to chat to her for free with no obligation, call her on 02392 483322

Or

Fill out our enquiry form and we will contact you at your convenience.

Initial Free advice

No Win No Fee*

Purely for Individuals

Experienced Lawyers 

Call us for a free initial consultation

0800 0351 999

OR we can call you back at a time of your choice

Request a call back

Area of Law

Preferred call time

May we add you to our newsletter please?
Yes


The data you submit will only be used by Swain & Co Solicitors. Please visit our Privacy Policy and Cookie Policy for more information.

Mon to Fri: 9.00am - 5.30pm

No Comments Yet.

Leave a comment

Time limit is exhausted. Please reload CAPTCHA.