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21 March 2019 / Julian Chamberlayne
Issue: 7833 / Categories: Features , Personal injury
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Will the new discount rate remain negative?

Julian Chamberlayne provides an update on the current position on the discount rate, & analyses the recent call for evidence
The Ministry of Justice (MoJ) closed its call for evidence on the discount rate at the end of January. The evidence will inform the lord chancellor on his discount rate review which was triggered this week. He has 140 days to set the new rate, which will be in place by 5 August 2019.


The call for evidence

The bulk of the call for evidence was directed at financial advisers and investment managers in an attempt to ascertain claimant investment behaviour. This is to inform the lord chancellor’s decision-making because under s 4(5) of the Civil Liability Act 2018 (CLA 2018) he must have regard to actual returns available, actual investments made by investors of damages, and make appropriate allowances for tax, inflation and investment management costs.

On behalf of Forum of Complex Injury Solicitors (FOCIS), I submitted a detailed response to address several misconceptions in the call for evidence and to provide data on the cost of investment advice

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MOVERS & SHAKERS

Jurit LLP—Caroline Williams

Jurit LLP—Caroline Williams

Private wealth and tax team welcomes cross-border specialist as consultant

Freeths—Michelle Kirkland Elias

Freeths—Michelle Kirkland Elias

International hospitality and leisure specialist joins corporate team as partner

Flint Bishop—Deborah Niven

Flint Bishop—Deborah Niven

Firm appoints head of intellectual property to drive northern growth

NEWS
Talk of a reserved ‘Welsh seat’ on the Supreme Court is misplaced. In NLJ this week, Professor Graham Zellick KC explains that the Constitutional Reform Act treats ‘England and Wales’ as one jurisdiction, with no statutory Welsh slot
The government’s plan to curb jury trials has sparked ‘jury furore’. Writing in NLJ this week, David Locke, partner at Hill Dickinson, says the rationale is ‘grossly inadequate’
A year after the $1.5bn Bybit heist, crypto fraud is booming—but so is recovery. Writing in NLJ this week, Neil Holloway, founder and CEO of M2 Recovery, warns that scams hit at least $14bn in 2025, fuelled by ‘pig butchering’ cons and AI deepfakes
After Woodcock confirmed no general duty to warn, debate turns to the criminal law. Writing in NLJ this week, Charles Davey of The Barrister Group urges revival of misprision or a modern equivalent
Family courts are tightening control of expert evidence. Writing in NLJ this week, Dr Chris Pamplin says there is ‘no automatic right’ to call experts; attendance must be ‘necessary in the interests of justice’ under FPR Pt 25
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