HL Deb 27 June 2001 vol 626 c12WA
Lord Graham of Edmonton

asked Her Majesty's Government:

When they intend to set a discount rate under the Damages Act 1996. [HL79]

The Lord Chancellor (Lord Irvine of Lairg)

I have today laid before Parliament an Order under Section 1 of the Damages Act 1996 setting the discount rate at 2.5 per cent. This rate will come into effect on 28 June 2001.

My reasons are set out in the document Section 1 of the Damages Act 1996: Reasons for Decision, copies of which have been placed in the Libraries of both Houses.