Claimant personal injury solicitors are resigned to the discount rate moving back up as a result of the Government’s latest consultation on the matter, according to research commissioned by Bill Braithwaite QC.
The research has found that just 10% of claimant PI solicitors expect the rate to stay at minus 0.75%, with 65% believing it will be adjusted to between 1 and 1.5%. 16% predict it will change to 0%. Most, however, do not believe that an announcement will be made this year, with 81% believing that the Government will release the findings of its latest discount rate consultation during 2018. Braithwaite (pictured) said that most of those surveyed also believe that the Government will “roll over and backtrack” on its decision to change the discount rate from 20 March this year. Prior to that move, the rate had been last revised in 2001. “An adjustm