An emotive issue for claimant lawyers, the NHSLA and insurers alike.
There has been much comment on the announcement made by the Lord Chancellor earlier this week, and the significance of the decision is likely to take many months of discussion to fully understand.
This quote struck me as particularly poignant though. For many years claimant lawyers have been arguing that the idea of a future return on investment of 2.5% was unrealistic, and that personal injury damages were not offering a realistic pot of funds for a severely injured individual to meet their future needs. Whilst the introduction of Periodical Payment Orders offered some security for the families of disabled children, reassurance that they would be cared for into their adult years when parental care was no longer a viable option, claimants have still had to budget available compensation to meet their equipment and therapy needs.
Hardly placing the person back in the position they were prior to the injury......
So now we face a new battle, on the issue of future accommodation claims... Time for the "pragamatic fudge" of that case lawyer John de Bono QC of Serjeants Inn Chambers called it this week, to be re-examined as well.
Interesting times ahead.
What was inexcusable was for the Lord Chancellor to do nothing at all, even though it must have been obvious to him and his advisers year by year that completely unrealistic discount rates were being applied to their awards which would no longer be sufficient to cover their future costs they would have to meet.