We are the voice of insurance and long-term savings | Contact us

New Discount Rate consultation is an important step towards a system that works for claimants, consumers, businesses and taxpayers

Discount Rate

Commenting on today’s publication of the Discount Rate consultation, Huw Evans, Director General of the Association of British Insurers, said: 

“This consultation document is an important step forward in helping get a fair, modern way to set the Discount Rate which works for claimants, consumers, businesses and taxpayers. Only a month after the setting of an absurdly low rate, the Government has moved swiftly to consider reform and we need to see this urgency maintained with a firm commitment to legislate in the Prisons & Courts Bill currently before Parliament. As the only major economy in the world with a negative rate, the UK will face significantly increased insurance and taxpayer costs until the system is reformed and a new rate can be set.”

Last updated 30/03/2017