Monday, August 1, 2011

Court Funds claimants losing out to effect of tax and inflation

Interesting article in The Guardian which says that: "Compensation claimants who deposited their awards with the Court Funds Office suffered a £140m erosion in value last year as inflation ate into their money." The special account rate used to be 6% but dropped to 0.5% in 2009. The basic rate is only 0.3%. It will be interesting to see how this will develop as inflation continues to erode these funds.

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