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New changes proposed to calculate damages claims

New changes proposed to calculate damages claims

The UK government has put in place new legislation that could see a change in the discount rate used to calculate personal injury damages awards. The so-called Ogden rate, which is used to calculate how much interest a victim would receive on any payout, was set at 2.5 per cent in 2000. But, in February this year, it was reduced to -0.75 per cent to reflect the fact that the return on gilt-edged investments is lower than inflation.

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