Bill Braithwaite QC has reacted to news that the interest rate used in the calculation of damages awards to those suffering life changing injuries from clinical negligence has been slashed by the Lord Chancellor. The Ministry of Justice announced the discount rate would drop from 2.5 per cent to minus 0.75 per cent.
"This is hugely significant - it could double some damages awards," said Bill.
"For someone in their twenties, lump sum damages would change from £4.8 million to £11 million. For someone in their sixties, where it impacts less, lump sum damages would change from £3.8 million to £6.5 million."