Lord Carlile of Berriewasked Her Majesty's Government:
What was the usual investment strategy of the Public Guardianship Office in relation to investment in equities on 27 June 2001, 3 August 2001, 21 September 2001, 29 November 2001 and 13 March 2002 respectively. [HL3325]
§ The Lord ChancellorIt has been, and remains, the practice of the Public Guardianship Office to offer its clients a range of investment strategies based on varying mixes of cash deposits and equities according to their individual needs. For those clients with longer terms interests and larger portfolios, the policy is normally to offer some element of equity investment, taking into account the clients' own preferences. This policy applied prior to 27 June 2001 and has remained in force throughout the stated period and has been applied not only to damages awards but also to the ongoing portfolios held by the Public Guardianship Office's mental health patients.
Lord Carlile of Berriewasked Her Majesty's Government:
Whether they will revise downwards the personal injury damages discount rate of 2.5 per cent in the light of the exclusion of equities by the Public Guardianship Office from its usual investment strategy and the Lord Chancellor's statement on 27 June 2001 that the strategy included investment in equities. [HL3326]
§ The Lord ChancellorThe Public Guardianship Office has not excluded equities from its usual investment strategy, and thus the question does not arise.