Bill to address PI discount rate and periodical payment orders
REFORMS to the law on setting the personal injury discount rate have been made in a Bill introduced in the Scottish Parliament.
The Damages (Investment Returns and Periodical Payments) (Scotland) Bill follows a joint consultation by the Scottish Government and the UK Government. The Faculty’s response to that consultation is here
The Bill will introduce a new method for calculating the discount rate, and require the rate to be reviewed by the Government Actuary every three years. It will also give courts power to impose periodical payment orders for future financial loss.