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ABI comments on Justice Select Committee report on Discount Rate

Commenting on the Justice Select Committee report on the Discount Rate, ABI Director General Huw Evans said: 

“We welcome this report which recognises the need for a system which balances the interests of claimants, customers and taxpayers. The Government’s reform proposals achieve this by ensuring that the Rate reflects claimant investment behaviour, a fact supported by evidence from financial experts supplied to the Government. Further evidence would only become available if claimant advisers were willing to provide it – to date this has not been supplied. For good reason no other comparable country in the world has set a Rate this low, and it is widely recognised that reform is vital. It is time to press ahead in the interests of getting a system that is fair for everyone.”

See the report here

Last updated 30/11/2017