FOIL Update – Discount Rate Scotland
- FOIL Ireland
- FOIL select
- London FOIL
Yesterday (30 September) the Government Actuary submitted a report to the Scottish Ministers recommending that the Scottish Personal Injury Discount Rate remain at -0.75% (this unchanged rate is effective from 1 October 2019). The Scottish Government is bound by the Damages (Investment Returns and Periodical Payments) (Scotland) Act 2019 to implement this recommendation.
Following review, the discount rate in England and Wales has been -0.25% since 5 August 2019. It is likely that we will now have different discount rates north and south of the border for several years to come.