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Re The £3m to £8m comment below:

1. Yes, they can afford it. The warning today are that it will reduce the insurers profits, not eradicate them.

2. The £8m would meet their needs. The £3m would have left them with £5m unmet need, unless they successfully gambled on investments. The shock is that Claimants up to now have been left injured and £5m short of meeting their needs.

3. They can mitigate the effect by paying periodical payments, which is the fairest method to all parties.

To have a discount rate that allows severely injured people to meet their future needs should not be contentious.