Discount Rate In Ireland And The UK

Irish Discount Rate at 1%

The Supreme Court in Russell v The Health Service Executive (Unreported, Supreme Court Determination, 1 February 2017) [2017] IESCDET 10 has refused to hear an appeal on the discount rate being lowered to 1% from 3% stating that the issue is not one that in the interests of justice needs to be further reviewed by the Supreme Court and there is no issue of substantive law which would constitutionally merit a review by the court.

Russell was a catastrophic injury case where the HSE sought to challenge the Court of Appeal's decision in relation to the estimated interest rate used in calculating the appropriate multiplier so as to arrive at the lump sum figure for the plaintiff's future pecuniary needs: this interest return is known as the Real Rate of Return ("the RRR", or "the Discount Rate").