Employment: Pre-judgment interest in discrimination cases reduced

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Unlike most other types of claims in the employment tribunals, claimants in discrimination cases can claim interest on losses incurred up to the date of judgment.  The interest accrues on a daily basis and is simple, not compounded.

The applicable interest rate in England and Wales is set by the Lord Chancellor.  The interest rate was reduced from 6% to 3% on 1 February 2009 and was further reduced to 1.5% on 1 June 2009.

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