It was appropriate to reduce the interest discount rate used to calculate damages awards in personal injury cases for future losses, from 3 per cent to 2 per cent. This reflected the general reduction in such interest rates since the Act came into effect. The House of Lords had set down guidelines for the discount rate to be applied on the award of damages for future losses. The decision had been expressed to apply only until the Act was put into effect. The parties sought to argue that they were not bound since the limitation was not essential to the decision, and the Lord Chancellor was thought to be about to announce a rate under the Act. The Court of Appeal stated that whilst guidelines were not immutable principles of law, they were clearly to be applied, and the time scale, set down in the judgement, was just as much part of the guidelines as the rate.
Judges:
Hnry, Judge, Hale LJJ
Citations:
Times 03-Apr-2001, Gazette 01-Jun-2001, [2001] EWCA Civ 433
Links:
Statutes:
Jurisdiction:
England and Wales
Citing:
Appeal from – Barry v Ablerex Construction (Midlands) Ltd QBD 22-Mar-2000
After a delay of delay 5 years, the judge deducted two years interest from the award to reflect the plaintiff’s delay. . .
Cited – Wells v Wells; Thomas v Brighton Health Authority; etc HL 16-Jul-1998
In each of three cases, the plaintiffs had suffered serious injury. They complained that the court had made a substantial reduction of their damages award for loss of future earnings and the costs of future care.
Held: The appeals succeeded. . .
Cited by:
Cited – Eagle (By Her Litigation Friend) v Chambers CA 29-Jul-2004
The claimant had been severely injured, and a substantial damages award made. Cross appeals were heard as to the several elements awarded. The claimant sought as part of her award of damages for personal injuries the fees she would have to pay to . .
Cited – Tortolano v Ogilvie Construction Ltd SCS 21-Feb-2013
. .
Lists of cited by and citing cases may be incomplete.
Personal Injury, Litigation Practice, Damages
Updated: 18 May 2022; Ref: scu.78259