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General

Damages Bill passed 21/03/2019 The Damages (Investment Returns and Periodical Payments) (Scotland) Bill was passed by the Scottish Parliament earlier this week.

Damages Bill passed 

The Damages (Investment Returns and Periodical Payments) (Scotland) Bill was passed by the Scottish Parliament earlier this week. The Bill reforms the way in which the personal injury discount rate for damages claims is set.

The discount rate is used to help calculate lump sum compensation to cover disadvantage such as future salary losses or future care costs in personal injury cases.

The legislation puts in place a new methodology for calculating the discount rate that should be applied to such losses and requires the discount rate to be reviewed by the Government Actuary every five years. It also gives courts in Scotland the powers to impose periodical payment orders for future financial loss, meaning payments can be spread over a period, such as the pursuer’s life span – usually via an annual payment.

“While the number of people affected by the discount rate is relatively small, we know that these cases tend to involve catastrophic injury with little prospect of the individual’s full recovery,” said Community Safety Minister Ash Denham. “These changes will ensure that the law determining how the discount rate is set is clear, fair, transparent and credible.”

The Bill can be found here.

 

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