The Ministry of Justice, the Scottish Government and the Department of Justice, Northern Ireland have today jointly published a consultation paper “Damages Act 1996: The Discount Rate—Review of the Legal Framework” (CP 3/2013).
The paper seeks views on two issues: first, whether the legal parameters governing the way in which the discount rate prescribed under section 1 of the Damages Act 1996 is currently calculated should be changed; and, secondly, whether there is a case for encouraging the use of periodical payments in cases where the discount rate would otherwise apply.
The consultation period is 12 weeks from 12 February. Copies of the consultation paper have been placed in the Libraries of both Houses. The document is also available online at: https://consult.justice.gov.uk.