A new personal injury discount rate of -1.75 per cent for Northern Ireland has been proposed by justice minister Naomi Long.
In a letter to APIL in February 2020 it was confirmed that the minister has asked civil servants to undertake a consultation with the Government Actuary and the Department of Finance on the proposed rate.
The announcement followed APIL’s lobbying of the Department of Justice (DoJ) and repeated calls for a review of the rate in Northern Ireland.
There is a still a requirement in Northern Ireland to set the rate in accordance with Wells v Wells. The DoJ has said that the minister will, in due course, give consideration to reviewing how the rate in Northern Ireland is set.