In your issue of December 27 you said that, in
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effect, a haulier could carry his own insurance risk by depositing £15,000 with the Accountant-General of the Supreme Court. My company is considering taking this course but would like to know if (a) the amount is still the same and (b) is this economic taking into account the interest on the capital sum which would be forfeit by not investing it elsewhere and the falling value of money due to inflation?
According to a recent Parliamentary answer, the sum required to be deposited in order to carry one's own insurance remains at £15,000 though an increase is contemplated. The loss of value through inflation is something which will occur wherever capital is placed but there is no reason to thinK that further loss will be occasioned for interest currently at the rate of 9 per cent accrues to any such deposit.