ABI suggests how the Government can plug the gap created by its NICs U-turn

James Dalton, Director of General Insurance Policy, Association of British Insurers, said:

“The Government can fill the void in its accounts from today’s NICs U-turn by  bringing  in a more sensible discount rate used to calculate personal injury compensation. As last week’s Budget confirmed,  the ill-judged decision to reduce the discount rate to minus 0.75 per cent will lead to a massive £6 billion hit on the NHS so this seems an obvious course of action to take”.