The Lord Chancellor has today (27 January) advised it will not be possible to announce the result of the Discount Rate review on 31 January 2017 as previously planned, as the review process has taken longer than anticipated. However, the Lord Chancellor says she is committed to making an announcement in February.
This latest development follows the ABI's failed attempt to bring Judicial Review proceedings against the Government; which called for the Government to complete its consultation on the Discount Rate and change the methodology before making a decision. The ABI was also refused permission to appeal that decision and their interim injunction application to stop the announcement was also rejected.
No date in February has been set and it therefore remains to be seen whether there will yet be further delay.
In cases where there is no urgency to settle, no doubt claimants will wish to delay settlement until the announcement is finally made.