The Lord Chancellor has announced changes to personal injury compensation payments which will see compensation awards rise to reflect the interest a victim could expect to receive by investing their compensation award often over many years of their life. The previous Discount Rate set in 2001 at 2.5% will be reduced to -0.75% and will help victims with life changing injuries and those suffering from serious asbestos-related illnesses to ensure they remain in the same financial position had they not been injured or developed an asbestos-related illness. These changes include future earnings and care costs. On 28th March, 2017 the Scottish Government passed The Damages (Personal Injury) (Scotland) Order 2017 which brought Scotland into line with England and Wales.
