Russell v HSE [05.11.15]
The Court of Appeal in Ireland has upheld a decision to apply reduced personal injury discount rates. The Claimant, who suffered brain damage at birth, claimed that the 3% discount rate used to calculate his future loss was insufficient and should be revised. The High Court awarded the Claimant a rate of 1.5% for future pecuniary loss and 1% for future care costs. Ms Justice Mary Irvine said the appeal court must pursue the policy of providing the child with compensation for future loss “on a 100% basis”. Requiring claimants to take unnecessary risks with their funds to acquire care was unjust. A further appeal to the Supreme Court is expected.