APIL news 260321 Department of justice to set the personal injury discount rate in Northern Ireland at - 1,75 per cent

APIL news 260321 Department of justice to set the personal injury discount rate in Northern Ireland at - 1,75 per cent

“Finally, there will be some certainty for people with life-long, life-changing injuries in Northern Ireland. The -1.75 per cent discount rate proposed by the Department of Justice means compensation for injured people will be calculated on the basis that they will not need to take risks when investing the money to ensure it stretches to meet their needs for the rest of their lives.

It will be a relief to people waiting to settle their personal injury claims after Northern Ireland has lagged behind the rest of the UK with an inappropriately high discount rate for many years.

The proposals follow years of lobbying by APIL and its recent intervention in a judicial review brought by Paul McCrossan against the Department of Justice in Northern Ireland, which was heard earlier this month.“ www.apil.org.uk