How much is £1 from 1997 worth now? Such a question may appear very simple at the outset. However, ask it twice and you will probably obtain two different answers. Applied in the context of a damages claim in a lawsuit, a number of parameters need to be considered to properly address this question, including what is the interest intended to compensate, what rate should be used, and what methodology should be applied? Put simply, from an economic perspective, £1 today does not have anywhere near the same value as £1 twenty-five years ago. From a legal perspective, it is necessary to account for that to ensure full compensation when calculating damages stemming from an infringement of competition law. As stated in the often-quoted English House of Lords judgment of Sempra Metals Limited v
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The UK Competition Appeal Tribunal endorses the award of compound interest in a damages claim against the truck cartel as opposed to simple interest to reflect the “real world” and the economic and commercial reality of businesses (Royal Mail / DAF Trucks)
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