It was not open to lower courts to reduce the guideline discount interest rate applied to damages awards to account for future returns. The original figure was set in the Act and by the House of Lords in Wells v Wells. Also the lower rates of interest currently applying are not sufficiently different to justify a change in the rate, and any change must await an order from the Lord Chancellor.
Citations:
Times 10-Apr-2000, Gazette 11-May-2000
Statutes:
Jurisdiction:
England and Wales
Citing:
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. . .
Lists of cited by and citing cases may be incomplete.
Damages
Updated: 11 May 2022; Ref: scu.90307