Disappointment as Scottish discount rate to remain at -0.75%
Lawyers warn that the lower rate in Scotland can cause delays and lead to higher costs for Scottish taxpayers after the rate in England and Wales was changed to -0.25% in July.
The Scottish Government Actuary has decided that the discount rate in Scotland should remain unchanged at -0.75%.
This follows a review of the rate which was completed on 27 September.
In July, the discount rate for England and Wales was set at -0.25%, with insurers reacting with disappointment.
A spokesperson from the Scottish arm of the Forum of Insurance Lawyers (Foil), commented: “The lower Scottish rate means that Scottish claimants will receive higher compensation payments.
“The
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