NHS Resolution:@0.116836:0.056159:0.212924:0.056159:0.212924:0.047246:0.116836:0.047246:0.009562:0.009320:0.006889:0.004862:0.008393:0.007051:0.005708:0.007977:0.003814:0.007682:0.005224:0.003505:0.007977:0.008125
Annual report and accounts 2021/22:@0.288484:0.056159:0.513913:0.056159:0.513913:0.047246:0.288484:0.047246:0.009226:0.008138:0.008058:0.008138:0.007212:0.003519:0.005627:0.004956:0.007306:0.008219:0.008232:0.004862:0.004553:0.005009:0.006836:0.007601:0.007722:0.005211:0.006836:0.006419:0.006204:0.008152:0.007803:0.007601:0.004741:0.005694:0.004539:0.006876:0.006970:0.006876:0.006970:0.005036:0.007051:0.007239
55:@0.938308:0.056159:0.952181:0.056159:0.952181:0.047246:0.938308:0.047246:0.006634:0.007239
Finance report:@0.096273:0.143414:0.376522:0.143414:0.376522:0.116674:0.096273:0.116674:0.021232:0.011442:0.024657:0.021998:0.024576:0.019339:0.022199:0.014947:0.016035:0.022159:0.024979:0.024979:0.016035:0.015672
Headlines in numbers:@0.118432:0.203635:0.354836:0.203635:0.354836:0.188037:0.118432:0.188037:0.017720:0.012432:0.012338:0.014195:0.006675:0.006345:0.013937:0.012338:0.010082:0.008390:0.005781:0.012338:0.009307:0.013772:0.013843:0.020893:0.014195:0.012338:0.009142:0.010341
•  The provision for the liabilities arising :@0.117675:0.224427:0.403249:0.224427:0.403249:0.213842:0.117675:0.213842:0.006475:0.004370:0.007288:0.008357:0.008771:0.008341:0.006347:0.008819:0.005199:0.008899:0.007304:0.003859:0.006299:0.003859:0.008723:0.008644:0.006044:0.004992:0.009537:0.005550:0.005358:0.005406:0.009026:0.008069:0.006044:0.003859:0.003524:0.007894:0.008979:0.003859:0.003859:0.003620:0.005406:0.003652:0.008054:0.006554:0.005630:0.007798:0.005295:0.003859:0.006299:0.003859:0.008564:0.009058:0.004370
from claims has increased by £43.4 billion :@0.135805:0.239809:0.437454:0.239809:0.437454:0.229224:0.135805:0.229224:0.004784:0.005550:0.009138:0.013508:0.006459:0.007368:0.003620:0.007894:0.003859:0.013348:0.006762:0.005917:0.008644:0.007719:0.006554:0.006044:0.003859:0.008723:0.007129:0.005374:0.008149:0.007798:0.006762:0.007926:0.009154:0.006459:0.008644:0.007049:0.006044:0.009234:0.009313:0.009234:0.003700:0.009234:0.005630:0.008899:0.003604:0.003604:0.003604:0.003604:0.008819:0.008564:0.004370
(50.8%) from £85.2  billion to £128.6 billion, :@0.136141:0.255250:0.457996:0.255250:0.457996:0.244666:0.136141:0.244666:0.005374:0.009648:0.009569:0.003859:0.009648:0.014608:0.005374:0.005199:0.004992:0.005550:0.009010:0.013508:0.006379:0.009058:0.009154:0.009058:0.003461:0.009218:0.004370:0.002424:0.008899:0.003604:0.003604:0.003604:0.003604:0.008819:0.008564:0.006044:0.005406:0.009122:0.006044:0.009058:0.009234:0.009154:0.009234:0.003700:0.009154:0.006459:0.009058:0.003859:0.003524:0.003859:0.003524:0.008899:0.008723:0.003269:0.004370
primarily due to a technical accounting :@0.136560:0.270632:0.416505:0.270632:0.416505:0.260048:0.136560:0.260048:0.009377:0.005311:0.003859:0.013348:0.008117:0.005311:0.003859:0.003859:0.007384:0.005295:0.009393:0.008660:0.008149:0.005199:0.005406:0.009122:0.005630:0.006889:0.005630:0.005406:0.008341:0.007368:0.008851:0.009026:0.003859:0.007368:0.007942:0.003859:0.006459:0.008117:0.007368:0.007176:0.009345:0.009026:0.008819:0.005406:0.003859:0.009026:0.009154:0.004370
change affecting the provision.:@0.136141:0.286310:0.355133:0.286310:0.355133:0.275725:0.136141:0.275725:0.007368:0.009026:0.008117:0.009026:0.009393:0.008341:0.005550:0.008117:0.004992:0.005183:0.008341:0.007368:0.005406:0.003859:0.009026:0.009393:0.006044:0.005406:0.009026:0.008069:0.006044:0.009058:0.005374:0.008979:0.007384:0.003859:0.006379:0.003859:0.008819:0.008723:0.003461
•  The total value of clinical  negligence claims :@0.117675:0.308225:0.447265:0.308225:0.447265:0.297641:0.117675:0.297641:0.006475:0.004370:0.007288:0.008357:0.008771:0.008341:0.005502:0.005199:0.009058:0.005199:0.007894:0.003859:0.005454:0.007639:0.008309:0.003859:0.009026:0.008341:0.005550:0.009345:0.005183:0.005199:0.007049:0.003859:0.003859:0.008564:0.003859:0.007049:0.007894:0.003859:0.004370:0.002424:0.009026:0.008341:0.009154:0.003859:0.003859:0.009074:0.008149:0.009026:0.007097:0.008149:0.005630:0.007368:0.003620:0.007894:0.003859:0.013348:0.006762:0.004370
under the CNST scheme incurred as a  result :@0.136560:0.323667:0.451175:0.323667:0.451175:0.313082:0.136560:0.313082:0.009026:0.008851:0.009393:0.008341:0.005550:0.004752:0.005406:0.009026:0.008149:0.005630:0.009872:0.011929:0.008468:0.008357:0.005358:0.006762:0.007368:0.009026:0.008069:0.013731:0.008341:0.005885:0.003859:0.008723:0.007049:0.008819:0.005374:0.005374:0.008054:0.009154:0.006459:0.007719:0.006379:0.005199:0.006889:0.004370:0.002520:0.005199:0.007894:0.006459:0.008644:0.003859:0.004960:0.004370
of incidents in 2021/22 was £13.3  billion, :@0.136141:0.339346:0.435876:0.339346:0.435876:0.328761:0.136141:0.328761:0.009345:0.004752:0.006044:0.003859:0.009026:0.007097:0.003859:0.009154:0.008341:0.008787:0.005406:0.006762:0.005885:0.003269:0.007559:0.006459:0.008596:0.008947:0.008596:0.008947:0.006220:0.008803:0.008596:0.005757:0.012088:0.008564:0.007129:0.006044:0.008979:0.009154:0.009058:0.003461:0.009218:0.004370:0.002520:0.009058:0.003859:0.003524:0.003859:0.003524:0.008899:0.008723:0.003269:0.004370
up from  £7.9 billion the previous year. The :@0.136560:0.354727:0.441878:0.354727:0.441878:0.344143:0.136560:0.344143:0.008309:0.008644:0.005630:0.004992:0.005550:0.009010:0.013508:0.004370:0.002424:0.008979:0.009058:0.003461:0.009122:0.006459:0.008819:0.003859:0.003524:0.003859:0.003524:0.008819:0.008644:0.005709:0.005406:0.009026:0.008069:0.006459:0.009058:0.005374:0.008054:0.007384:0.003859:0.008899:0.008819:0.006554:0.004864:0.007304:0.007894:0.007719:0.005199:0.003269:0.006459:0.008357:0.008596:0.008054:0.004370
change in the long term discount rates set :@0.136141:0.370109:0.441506:0.370109:0.441506:0.359525:0.136141:0.359525:0.007368:0.009026:0.008117:0.009026:0.009393:0.008341:0.005964:0.003365:0.007894:0.005709:0.005406:0.009026:0.008069:0.006459:0.003604:0.008644:0.008484:0.008723:0.006044:0.005406:0.008101:0.005550:0.013508:0.006044:0.009393:0.003859:0.006762:0.007368:0.009345:0.009026:0.009026:0.005406:0.005534:0.005374:0.008117:0.005151:0.008149:0.006762:0.005151:0.006459:0.007798:0.005039:0.004370
by HM Treasury has significantly affected this :@0.136560:0.385490:0.460074:0.385490:0.460074:0.374906:0.136560:0.374906:0.008644:0.007049:0.006044:0.010494:0.013348:0.006044:0.008054:0.005374:0.008054:0.007894:0.006554:0.008819:0.005374:0.007463:0.005630:0.008723:0.007719:0.006554:0.005630:0.006762:0.004067:0.009393:0.009026:0.003859:0.004992:0.003859:0.007368:0.008117:0.009026:0.005406:0.003859:0.007719:0.005183:0.008117:0.004992:0.004992:0.008341:0.007368:0.005406:0.008341:0.009393:0.005502:0.005406:0.008771:0.003859:0.006554:0.004370
value,  increasing  it from £8.7  billion  based :@0.135385:0.400872:0.441085:0.400872:0.441085:0.390287:0.135385:0.390287:0.007639:0.008309:0.003859:0.009234:0.008341:0.003668:0.004370:0.002520:0.003859:0.008644:0.007129:0.005374:0.008149:0.007798:0.006762:0.003652:0.008819:0.009154:0.004370:0.002424:0.003365:0.004705:0.005295:0.004784:0.005550:0.009138:0.013508:0.006459:0.008979:0.009058:0.003461:0.009122:0.004370:0.002424:0.008899:0.003604:0.003604:0.003604:0.003604:0.008819:0.008564:0.004370:0.002520:0.008899:0.007559:0.006379:0.007798:0.008819:0.004370
on the previous set of discount rates.:@0.136141:0.416313:0.398224:0.416313:0.398224:0.405729:0.136141:0.405729:0.008564:0.008388:0.006044:0.005406:0.009026:0.008149:0.006459:0.009058:0.005374:0.008054:0.007384:0.003859:0.008899:0.008819:0.006554:0.005630:0.006554:0.007974:0.005199:0.005295:0.009345:0.004752:0.005630:0.009393:0.003859:0.006762:0.007097:0.009345:0.009026:0.008819:0.005406:0.005933:0.005374:0.007719:0.005119:0.007894:0.006459:0.003461
•  Payments for settling claims in 2021/22  increased :@0.117675:0.438526:0.491870:0.438526:0.491870:0.427942:0.117675:0.427942:0.006475:0.004370:0.008468:0.008644:0.008117:0.007416:0.013428:0.008149:0.008819:0.005406:0.006507:0.005199:0.004992:0.009537:0.005550:0.005358:0.006762:0.008101:0.005199:0.005406:0.003652:0.003859:0.008644:0.009154:0.006044:0.007368:0.003859:0.007830:0.003859:0.013428:0.006762:0.005996:0.003269:0.007639:0.006459:0.008596:0.008867:0.008596:0.008947:0.006220:0.008803:0.008596:0.004370:0.002647:0.003859:0.008564:0.007049:0.005374:0.008149:0.007798:0.006554:0.008054:0.009058:0.004370
by £199 million (8.8%), to £2.459 billion.:@0.136560:0.453908:0.431272:0.453908:0.431272:0.443323:0.136560:0.443323:0.008644:0.007049:0.005709:0.008979:0.009058:0.008899:0.008899:0.006459:0.013173:0.003859:0.003524:0.003859:0.003524:0.008899:0.008644:0.006044:0.005374:0.009648:0.003859:0.009569:0.014688:0.005374:0.003859:0.006044:0.005406:0.009122:0.006044:0.009058:0.009234:0.003700:0.009154:0.009234:0.009154:0.006459:0.008819:0.003859:0.003524:0.003859:0.003524:0.008819:0.008644:0.003461
•  Administration costs increased by £8.8 million :@0.117675:0.476179:0.466529:0.476179:0.466529:0.465594:0.117675:0.465594:0.006475:0.004370:0.006873:0.010494:0.009393:0.013938:0.003859:0.009026:0.003859:0.006762:0.005709:0.005550:0.008117:0.005645:0.003859:0.009345:0.009202:0.006044:0.007129:0.009058:0.006762:0.005071:0.006762:0.005917:0.003859:0.008723:0.007049:0.005374:0.008149:0.007798:0.006762:0.007926:0.009154:0.006459:0.008819:0.007304:0.005630:0.009058:0.009234:0.003700:0.009058:0.006044:0.013013:0.003859:0.003524:0.003859:0.003524:0.008819:0.008564:0.004370
(25%) to £44.2 million.:@0.136141:0.491560:0.301502:0.491560:0.301502:0.480975:0.136141:0.480975:0.005199:0.009569:0.009489:0.014433:0.005295:0.005199:0.005406:0.009122:0.006044:0.008979:0.009154:0.009058:0.003461:0.009218:0.006459:0.013348:0.003859:0.003524:0.003859:0.003524:0.008979:0.008723:0.003461
•  Budget position::@0.117675:0.513772:0.251157:0.513772:0.251157:0.503188:0.117675:0.503188:0.006475:0.004370:0.008117:0.009138:0.009026:0.009202:0.009393:0.008341:0.005406:0.005486:0.009154:0.009058:0.006554:0.003859:0.005039:0.003859:0.008819:0.008723:0.003461
- Department Expenditure Limit (DEL):@0.138157:0.536043:0.402345:0.536043:0.402345:0.525459:0.138157:0.525459:0.004449:0.006044:0.011179:0.008548:0.009377:0.008117:0.005550:0.005406:0.013731:0.008341:0.009026:0.005406:0.006395:0.007894:0.007129:0.009377:0.008165:0.009026:0.009393:0.003652:0.005406:0.009026:0.005295:0.008341:0.005933:0.007224:0.003859:0.013348:0.003859:0.005119:0.005709:0.004529:0.010749:0.007639:0.007129:0.004816
£239 million (8.7%) under budget.:@0.148649:0.551425:0.397001:0.551425:0.397001:0.540841:0.148649:0.540841:0.008979:0.009058:0.008899:0.008899:0.006459:0.013013:0.003859:0.003524:0.003859:0.003524:0.008819:0.008564:0.006459:0.005295:0.009648:0.003859:0.009569:0.014608:0.005374:0.006379:0.009026:0.008771:0.009393:0.008069:0.005550:0.005534:0.009154:0.008723:0.009393:0.009074:0.008149:0.005406:0.003461
- Annually Managed  Expenditure (AME):@0.138157:0.570252:0.419776:0.570252:0.419776:0.559667:0.138157:0.559667:0.004449:0.004784:0.010749:0.009313:0.009313:0.009234:0.008388:0.003859:0.004035:0.007974:0.006044:0.014321:0.007830:0.009026:0.007766:0.009393:0.008069:0.009393:0.004370:0.002695:0.007894:0.007129:0.009377:0.008165:0.009026:0.009393:0.003652:0.005406:0.009026:0.005295:0.008341:0.005598:0.004816:0.010286:0.014321:0.008069:0.004816
£2.63  billion (5.7%) under budget.:@0.148649:0.585634:0.397001:0.585634:0.397001:0.575049:0.148649:0.575049:0.008979:0.009154:0.003461:0.009218:0.009058:0.004370:0.002520:0.008899:0.003604:0.003859:0.003524:0.003859:0.008723:0.008644:0.006044:0.005295:0.009648:0.003859:0.009569:0.014608:0.005374:0.006379:0.009026:0.008771:0.009393:0.008069:0.005550:0.005534:0.009154:0.008723:0.009393:0.009074:0.008149:0.005406:0.003461
The two key aspects to NEIS  Resolution's financial :@0.116836:0.611290:0.465227:0.611290:0.465227:0.600706:0.116836:0.600706:0.008357:0.008596:0.008054:0.005199:0.005406:0.011801:0.009345:0.006092:0.007559:0.007974:0.007384:0.005295:0.007894:0.006459:0.009058:0.008054:0.007129:0.005199:0.006554:0.004784:0.005119:0.008979:0.006044:0.010238:0.006969:0.003700:0.007304:0.004370:0.002520:0.008979:0.007894:0.006459:0.008819:0.003859:0.008388:0.005199:0.003859:0.008644:0.008564:0.003445:0.006459:0.004864:0.004992:0.003859:0.008771:0.008117:0.008676:0.007368:0.003620:0.008117:0.003636:0.004370
activities are the provision for liabilities arising from :@0.117255:0.626671:0.477337:0.626671:0.477337:0.616086:0.117255:0.616086:0.007798:0.007049:0.005406:0.003572:0.007384:0.003859:0.005039:0.003859:0.007894:0.006554:0.005630:0.007559:0.005199:0.007798:0.005199:0.005406:0.008691:0.008054:0.006044:0.008899:0.005295:0.008723:0.007129:0.003604:0.006379:0.003604:0.008723:0.008484:0.005630:0.004992:0.009345:0.005550:0.005550:0.003604:0.003859:0.007639:0.008899:0.003859:0.003524:0.003859:0.005039:0.003859:0.007814:0.006459:0.005199:0.007639:0.005295:0.003859:0.006220:0.003859:0.008484:0.008979:0.005630:0.004784:0.005374:0.008899:0.013173:0.004370
incidents which have already happened, and in­:@0.117675:0.642053:0.452400:0.642053:0.452400:0.631468:0.117675:0.631468:0.003859:0.008644:0.007049:0.003859:0.008899:0.008054:0.008644:0.005199:0.006554:0.004864:0.011530:0.009026:0.003859:0.007559:0.009026:0.006507:0.008723:0.007798:0.007384:0.007974:0.005199:0.007798:0.003859:0.005295:0.008054:0.007894:0.009154:0.007463:0.005709:0.009026:0.007766:0.009154:0.009154:0.008054:0.008723:0.008149:0.009154:0.003461:0.006283:0.007639:0.008484:0.008899:0.006459:0.003859:0.008644:0.006379
year budgetary performance which  includes both :@0.116836:0.657433:0.464526:0.657433:0.464526:0.646849:0.116836:0.646849:0.007463:0.008149:0.008117:0.005311:0.005630:0.009377:0.008580:0.009154:0.009154:0.008149:0.005406:0.007766:0.005374:0.007719:0.005039:0.009377:0.008085:0.005550:0.004992:0.009010:0.005550:0.013412:0.007894:0.009026:0.007176:0.008149:0.004864:0.011530:0.009026:0.003859:0.007559:0.009026:0.004370:0.002552:0.003859:0.008564:0.006969:0.003859:0.008484:0.008979:0.007974:0.006554:0.006044:0.008644:0.008644:0.004960:0.008388:0.004370
scheme payments and our administration costs.:@0.116836:0.673112:0.448562:0.673112:0.448562:0.662528:0.116836:0.662528:0.006762:0.007001:0.009026:0.008006:0.013428:0.008149:0.006044:0.009154:0.007798:0.007463:0.013348:0.008054:0.008819:0.005199:0.006762:0.005071:0.007639:0.008484:0.008899:0.006044:0.009154:0.008819:0.005374:0.005295:0.007894:0.009154:0.013348:0.003859:0.008723:0.003859:0.006459:0.005406:0.005247:0.007798:0.005406:0.003652:0.009058:0.008819:0.006044:0.006889:0.008819:0.006459:0.005119:0.006459:0.003461
Year-end provisions:@0.536260:0.204763:0.752053:0.204763:0.752053:0.189165:0.536260:0.189165:0.013678:0.012080:0.012080:0.008978:0.009072:0.012080:0.013608:0.013843:0.009307:0.014195:0.009072:0.014007:0.012432:0.006675:0.009941:0.006463:0.014007:0.013937:0.010341
The provision is the value of liabilities arising from incidents :@0.536260:0.225555:0.954375:0.225555:0.954375:0.214971:0.536260:0.214971:0.008149:0.008723:0.008054:0.006044:0.008899:0.005295:0.008723:0.007129:0.003604:0.006379:0.003604:0.008723:0.008484:0.006459:0.003190:0.005709:0.004784:0.005406:0.009026:0.008149:0.004864:0.007639:0.007894:0.003859:0.008723:0.008149:0.005630:0.008899:0.004784:0.005630:0.003604:0.003859:0.007639:0.008899:0.003859:0.003524:0.003859:0.005039:0.003859:0.007814:0.006459:0.005295:0.007639:0.005295:0.003859:0.006220:0.003859:0.008484:0.008979:0.005630:0.004784:0.005550:0.008979:0.013348:0.006044:0.003859:0.008644:0.007049:0.003859:0.008899:0.008054:0.008644:0.005199:0.006554:0.004370
that occurred before 31  March 2022 at current prices, :@0.536260:0.240997:0.918062:0.240997:0.918062:0.230412:0.536260:0.230412:0.005406:0.009026:0.008309:0.005406:0.005247:0.008979:0.007049:0.007049:0.008564:0.005295:0.005295:0.008054:0.008979:0.006459:0.008979:0.008054:0.004992:0.008851:0.005374:0.008054:0.005199:0.007224:0.007304:0.004370:0.004449:0.013763:0.007719:0.005374:0.007129:0.008723:0.006044:0.008596:0.008596:0.008596:0.008596:0.006746:0.007719:0.005119:0.005295:0.007368:0.008755:0.005550:0.005358:0.008341:0.009026:0.005135:0.005630:0.008899:0.005199:0.003604:0.006969:0.007894:0.006459:0.003269:0.004370
both in relation to claims received and our estimate of :@0.537015:0.256378:0.918482:0.256378:0.918482:0.245794:0.537015:0.245794:0.008819:0.008723:0.005039:0.008484:0.006459:0.003269:0.007559:0.006459:0.005199:0.007894:0.003859:0.007559:0.005119:0.003859:0.008723:0.008564:0.005630:0.005119:0.008979:0.005630:0.007368:0.003540:0.007798:0.003859:0.013173:0.006554:0.005709:0.005199:0.007798:0.006889:0.007894:0.003604:0.007129:0.007798:0.008819:0.006044:0.007798:0.008644:0.008979:0.006044:0.008979:0.008644:0.005295:0.005295:0.008054:0.006762:0.005071:0.003859:0.013348:0.008117:0.005055:0.008149:0.005630:0.008644:0.004609:0.004370
claims that we are likely to receive in the future from :@0.536680:0.271759:0.908403:0.271759:0.908403:0.261175:0.536680:0.261175:0.007368:0.003540:0.007798:0.003859:0.013173:0.006554:0.004784:0.005406:0.009026:0.008309:0.005406:0.004370:0.012040:0.008644:0.005630:0.007559:0.005199:0.007798:0.006044:0.003859:0.003524:0.007463:0.007974:0.003859:0.007129:0.004864:0.005039:0.008644:0.006044:0.005119:0.007894:0.006969:0.007974:0.003859:0.007049:0.007894:0.006044:0.003269:0.007559:0.005630:0.005406:0.009026:0.008149:0.004864:0.004992:0.009026:0.005406:0.009026:0.005550:0.008341:0.005167:0.004784:0.005374:0.008899:0.013173:0.004370
those incidents which have occurred but have yet to be :@0.536260:0.287438:0.926977:0.287438:0.926977:0.276854:0.536260:0.276854:0.005406:0.008691:0.009058:0.006762:0.007926:0.006044:0.003859:0.008644:0.007049:0.003859:0.008899:0.008149:0.008644:0.005199:0.006554:0.004370:0.011530:0.009361:0.003859:0.007559:0.009234:0.006459:0.008644:0.007639:0.007224:0.007894:0.005630:0.008899:0.007129:0.007129:0.008644:0.005374:0.005374:0.008054:0.009058:0.006459:0.008899:0.008484:0.005119:0.005709:0.008644:0.007639:0.007224:0.007894:0.005199:0.007719:0.007974:0.005406:0.004752:0.005039:0.008644:0.006044:0.008309:0.007384:0.004370
reported as claims (incurred but not reported, IBNR).:@0.537015:0.302820:0.899967:0.302820:0.899967:0.292235:0.537015:0.292235:0.005199:0.007894:0.008899:0.008819:0.005295:0.005199:0.007894:0.008899:0.006044:0.007719:0.006379:0.005199:0.007368:0.003540:0.007798:0.003859:0.013173:0.006554:0.005199:0.004609:0.003859:0.008564:0.007049:0.008644:0.005295:0.005295:0.008054:0.009058:0.006459:0.008899:0.008564:0.005119:0.005630:0.008819:0.008979:0.005199:0.005630:0.005295:0.007974:0.009058:0.008979:0.005374:0.005406:0.007942:0.009058:0.003461:0.006363:0.003939:0.008229:0.010828:0.008564:0.004370:0.003461
The provision has increased by £43.4 billion (50.8%) to :@0.536260:0.325092:0.925733:0.325092:0.925733:0.314508:0.536260:0.314508:0.008149:0.008723:0.008054:0.006044:0.008899:0.005295:0.008723:0.007129:0.003604:0.006379:0.003604:0.008723:0.008484:0.006459:0.008564:0.007639:0.006379:0.005630:0.003859:0.008484:0.006969:0.005295:0.007974:0.007719:0.006459:0.007894:0.008979:0.006459:0.008644:0.007049:0.005709:0.008899:0.008979:0.008979:0.003461:0.009122:0.006044:0.008723:0.003604:0.003604:0.003604:0.003604:0.008644:0.008484:0.006044:0.005119:0.009393:0.009313:0.003780:0.009393:0.014177:0.005199:0.005199:0.005039:0.008723:0.004370
£128.6 billion. The most significant factor, accounting :@0.537015:0.340474:0.916840:0.340474:0.916840:0.329890:0.537015:0.329890:0.009058:0.009058:0.008979:0.009058:0.003461:0.009122:0.006044:0.008819:0.003859:0.003524:0.003859:0.003524:0.008819:0.008644:0.003269:0.006044:0.008357:0.008596:0.008054:0.006044:0.013173:0.008979:0.006554:0.005119:0.004864:0.006762:0.003859:0.009393:0.008771:0.003859:0.004992:0.003652:0.007368:0.007910:0.009026:0.005406:0.004705:0.004705:0.007894:0.007129:0.005199:0.009058:0.005374:0.003461:0.006363:0.007798:0.007129:0.007368:0.008994:0.008723:0.008819:0.005199:0.003859:0.008644:0.009154:0.004370
for £42.6 billion of this change,  is the reduction in the :@0.536260:0.355856:0.918859:0.355856:0.918859:0.345271:0.536260:0.345271:0.004992:0.009345:0.005550:0.005454:0.008979:0.009154:0.009058:0.003461:0.009218:0.006044:0.008644:0.003524:0.003524:0.003604:0.003604:0.008644:0.008388:0.006379:0.008979:0.004784:0.004784:0.005406:0.008771:0.003859:0.006554:0.005199:0.007368:0.008755:0.008117:0.008835:0.009393:0.008341:0.003253:0.004370:0.002424:0.003190:0.005709:0.004784:0.005406:0.008691:0.008054:0.006044:0.005374:0.008054:0.008979:0.008644:0.007049:0.005119:0.003859:0.008723:0.008644:0.006459:0.003269:0.007639:0.005630:0.005406:0.008691:0.008054:0.004370
long term and very long term discount rates set by HM :@0.537015:0.371236:0.922964:0.371236:0.922964:0.360652:0.537015:0.360652:0.003604:0.008644:0.008484:0.008723:0.005630:0.005199:0.008054:0.005295:0.013268:0.006044:0.007639:0.008484:0.008899:0.005630:0.007304:0.008054:0.005374:0.007463:0.005199:0.003604:0.008644:0.008484:0.008723:0.005630:0.005199:0.008054:0.005295:0.013268:0.006044:0.009154:0.003859:0.006459:0.007129:0.009345:0.008707:0.009026:0.005151:0.005630:0.005295:0.007798:0.005119:0.007974:0.006459:0.004864:0.006554:0.007974:0.005199:0.005630:0.008644:0.007049:0.005630:0.010159:0.012838:0.004370
Treasury. The discount rate is designed to recognise the :@0.536260:0.386618:0.925382:0.386618:0.925382:0.376034:0.536260:0.376034:0.007719:0.005119:0.007639:0.007463:0.006204:0.008388:0.005119:0.007129:0.003190:0.006459:0.008149:0.008723:0.008054:0.005709:0.009058:0.003859:0.006554:0.007049:0.009154:0.008723:0.008819:0.005199:0.005630:0.005295:0.007798:0.005119:0.007974:0.006044:0.003190:0.005630:0.005295:0.009058:0.007894:0.006459:0.003859:0.008819:0.008564:0.007974:0.008979:0.005630:0.005119:0.008979:0.006044:0.005374:0.007894:0.007049:0.008979:0.008899:0.008644:0.003859:0.006299:0.007894:0.005295:0.005119:0.008644:0.007974:0.004370
value of money over time:  £1  now may be worth more :@0.536260:0.402000:0.924090:0.402000:0.924090:0.391416:0.536260:0.391416:0.007384:0.007894:0.003859:0.008644:0.008054:0.005630:0.009345:0.004752:0.005630:0.013348:0.009058:0.008819:0.008054:0.007463:0.004864:0.008819:0.007304:0.007974:0.005295:0.004864:0.005199:0.003859:0.013348:0.008054:0.003461:0.004370:0.002743:0.007049:0.007049:0.004370:0.004529:0.009026:0.009345:0.011530:0.005518:0.013348:0.007798:0.007463:0.005295:0.008564:0.007559:0.004784:0.011530:0.009537:0.005550:0.005406:0.009026:0.006539:0.012838:0.008723:0.005199:0.007798:0.004370
or less in the future. Applying a discount rate to the :@0.536680:0.417738:0.902422:0.417738:0.902422:0.407154:0.536680:0.407154:0.008819:0.005295:0.005630:0.003524:0.007559:0.006124:0.006124:0.005630:0.003269:0.007639:0.005630:0.005406:0.009026:0.008149:0.004864:0.004992:0.009026:0.005406:0.009026:0.005374:0.008341:0.003461:0.006331:0.009983:0.009058:0.009154:0.003859:0.007479:0.003859:0.008644:0.009154:0.006044:0.006889:0.006044:0.009058:0.003859:0.006554:0.007049:0.009154:0.008723:0.008819:0.005199:0.005630:0.005295:0.007798:0.005119:0.007974:0.005295:0.005039:0.008644:0.005199:0.005406:0.008691:0.008054:0.004370
amounts we expect to pay out in the future enables :@0.536680:0.433120:0.903252:0.433120:0.903252:0.422536:0.536680:0.422536:0.008117:0.013364:0.009345:0.008707:0.009026:0.005151:0.006762:0.004370:0.012120:0.008819:0.005630:0.008149:0.007320:0.009042:0.008341:0.007017:0.005406:0.004673:0.005039:0.008723:0.006044:0.008819:0.007639:0.007304:0.005199:0.008979:0.008819:0.005199:0.005630:0.003269:0.007639:0.005630:0.005406:0.009026:0.008149:0.005199:0.004992:0.009026:0.005199:0.009026:0.005550:0.008085:0.005630:0.007974:0.008644:0.007798:0.008899:0.003859:0.007894:0.006554:0.004370
us to put a value on those outgoings at today's prices.:@0.537015:0.448501:0.912789:0.448501:0.912789:0.437917:0.537015:0.437917:0.008309:0.006204:0.004864:0.005119:0.008979:0.006044:0.008899:0.008564:0.005119:0.005199:0.006889:0.005630:0.007384:0.007894:0.003859:0.008644:0.008054:0.005630:0.008564:0.008388:0.005630:0.005406:0.008691:0.009058:0.006762:0.007926:0.005295:0.009058:0.008819:0.005199:0.009154:0.009058:0.003859:0.008723:0.009154:0.006762:0.005071:0.008117:0.005231:0.004784:0.005039:0.008979:0.008979:0.007639:0.007384:0.003668:0.006315:0.005630:0.008819:0.005199:0.003604:0.006889:0.007798:0.006379:0.003461
It tells us how much we would need to pay out if we :@0.536998:0.463885:0.909982:0.463885:0.909982:0.453301:0.536998:0.453301:0.003604:0.004449:0.004864:0.005119:0.008054:0.003859:0.003524:0.006459:0.005630:0.008309:0.006204:0.005630:0.009026:0.009521:0.011530:0.005757:0.013173:0.008564:0.007049:0.008644:0.005295:0.012168:0.008723:0.004370:0.011753:0.009345:0.009202:0.003859:0.009393:0.006475:0.008484:0.007719:0.007719:0.008723:0.005630:0.005119:0.008979:0.006044:0.008899:0.007639:0.007304:0.004784:0.009345:0.008787:0.005406:0.005502:0.003524:0.004529:0.004370:0.011993:0.008564:0.004370
settled all of those future obligations today.  In accordance :@0.536243:0.479266:0.945092:0.479266:0.945092:0.468682:0.536243:0.468682:0.006554:0.007974:0.005119:0.005199:0.003859:0.007814:0.008979:0.006044:0.007224:0.003445:0.003445:0.006044:0.009345:0.004752:0.004864:0.005406:0.008691:0.009058:0.006762:0.007926:0.004864:0.004992:0.009026:0.005406:0.009026:0.005550:0.008341:0.005582:0.009058:0.009154:0.003859:0.003524:0.009058:0.007894:0.005199:0.003859:0.008819:0.008723:0.006554:0.004864:0.005119:0.008819:0.008819:0.007559:0.007224:0.003190:0.004370:0.002855:0.003524:0.007384:0.006044:0.007894:0.007129:0.007368:0.008994:0.005374:0.009058:0.007894:0.008819:0.007129:0.008054:0.004370
with  International Financial  Reporting Standards,  HM :@0.535823:0.494707:0.909987:0.494707:0.909987:0.484123:0.535823:0.484123:0.011530:0.003859:0.005677:0.009026:0.004370:0.002631:0.004035:0.008723:0.005199:0.008149:0.005374:0.008723:0.007894:0.005199:0.003859:0.009074:0.008723:0.007894:0.003859:0.006714:0.007304:0.003859:0.008388:0.007719:0.008644:0.006969:0.003859:0.007559:0.003859:0.004370:0.002759:0.008979:0.007894:0.008899:0.008819:0.005199:0.005119:0.003859:0.008388:0.008899:0.006044:0.008229:0.005199:0.008117:0.008755:0.009154:0.008117:0.005311:0.009393:0.006475:0.003461:0.004370:0.002823:0.009903:0.012583:0.004370
Treasury has applied market rates which reflect the low :@0.536243:0.510386:0.925317:0.510386:0.925317:0.499802:0.536243:0.499802:0.008054:0.005295:0.007974:0.007798:0.006379:0.008644:0.005295:0.007384:0.005199:0.008564:0.007639:0.006379:0.005199:0.007719:0.008899:0.008979:0.003859:0.003524:0.007974:0.008979:0.006459:0.013508:0.008117:0.005311:0.007926:0.008341:0.005135:0.005630:0.005295:0.007798:0.005119:0.007974:0.006459:0.004370:0.011530:0.009361:0.003859:0.007559:0.009234:0.006459:0.005295:0.008054:0.004992:0.003572:0.008054:0.007129:0.005199:0.004864:0.005406:0.008691:0.008054:0.006044:0.003859:0.009074:0.011243:0.004370
cost of borrowing to Government in determining the :@0.536663:0.525768:0.910826:0.525768:0.910826:0.515184:0.536663:0.515184:0.007049:0.008979:0.006554:0.005199:0.005199:0.008899:0.004784:0.005709:0.009058:0.009058:0.005374:0.005374:0.009058:0.011243:0.003859:0.008644:0.009154:0.006044:0.005039:0.008723:0.006044:0.010940:0.009345:0.007416:0.008341:0.005550:0.009026:0.013731:0.008341:0.009026:0.005406:0.005550:0.003269:0.007559:0.006044:0.009058:0.008054:0.005406:0.007942:0.005374:0.013348:0.003859:0.008644:0.003859:0.008723:0.009154:0.005630:0.005406:0.008691:0.008054:0.004370
long term discount rate.  Note 7.3 to the accounts shows :@0.536998:0.541149:0.936630:0.541149:0.936630:0.530564:0.536998:0.530564:0.003604:0.008644:0.008484:0.008723:0.005630:0.005199:0.008054:0.005295:0.013268:0.006044:0.009058:0.003859:0.006554:0.007049:0.009154:0.008723:0.008819:0.005199:0.005630:0.005295:0.007798:0.005119:0.007974:0.003269:0.004370:0.002855:0.011084:0.008723:0.005119:0.007719:0.005630:0.008596:0.003461:0.008596:0.006379:0.005039:0.008644:0.005199:0.005406:0.008691:0.008054:0.005709:0.008117:0.007081:0.007368:0.009170:0.009026:0.008851:0.005406:0.006762:0.004705:0.006762:0.008851:0.009345:0.011530:0.006570:0.004370
how the rates have changed, with the most significant :@0.536998:0.556529:0.922102:0.556529:0.922102:0.545945:0.536998:0.545945:0.009026:0.009345:0.011530:0.005183:0.005406:0.008691:0.008054:0.006044:0.005295:0.007798:0.005119:0.007974:0.006459:0.005630:0.008644:0.007639:0.007224:0.007894:0.005709:0.007368:0.008835:0.008117:0.008755:0.009393:0.008149:0.009393:0.003190:0.005295:0.011833:0.003859:0.005630:0.009234:0.005709:0.005406:0.008691:0.008054:0.006044:0.013173:0.008979:0.006554:0.005119:0.004784:0.006762:0.003859:0.009186:0.008819:0.003859:0.004992:0.003652:0.007368:0.007830:0.009026:0.005151:0.004370
changes being the reduction in the nominal long term :@0.536663:0.571911:0.918481:0.571911:0.918481:0.561327:0.536663:0.561327:0.007129:0.008819:0.008117:0.008676:0.009154:0.008341:0.006523:0.005709:0.008723:0.007798:0.003604:0.008484:0.008819:0.005630:0.005406:0.009026:0.008149:0.005630:0.005374:0.007974:0.009058:0.008723:0.007129:0.005199:0.003859:0.008819:0.008723:0.006459:0.003269:0.007559:0.005709:0.005406:0.008691:0.008054:0.006044:0.008564:0.008899:0.013173:0.003859:0.008388:0.007798:0.003859:0.006634:0.003524:0.008564:0.008309:0.008644:0.005630:0.005199:0.008054:0.005295:0.013268:0.004370
(10 to 40 years) and very long term (over 40 years) :@0.536663:0.587293:0.893571:0.587293:0.893571:0.576709:0.536663:0.576709:0.004816:0.008596:0.008325:0.005199:0.005119:0.008979:0.005295:0.008819:0.008899:0.005199:0.007304:0.007974:0.007798:0.005295:0.006554:0.004609:0.005630:0.007639:0.008484:0.008819:0.005709:0.007304:0.008054:0.005374:0.007463:0.005630:0.003524:0.008564:0.008309:0.008564:0.005709:0.005406:0.008022:0.005374:0.013428:0.005630:0.004609:0.009058:0.007304:0.007974:0.005295:0.004784:0.008596:0.008771:0.005199:0.007304:0.007974:0.007798:0.005295:0.006554:0.004609:0.004370
rates from  1.99% to 0.95% and 0.66%  respectively.:@0.536998:0.603031:0.903507:0.603031:0.903507:0.592447:0.536998:0.592447:0.005295:0.007798:0.005119:0.007974:0.006459:0.004864:0.004784:0.005550:0.008979:0.013348:0.004370:0.003269:0.009058:0.003780:0.009058:0.009058:0.013763:0.006044:0.005119:0.008979:0.005630:0.009393:0.003939:0.009489:0.009489:0.014433:0.006379:0.007639:0.008484:0.008899:0.006044:0.009393:0.003859:0.009393:0.009393:0.014273:0.004370:0.002855:0.005199:0.007719:0.006379:0.008723:0.007719:0.006889:0.005039:0.003604:0.007129:0.007798:0.003604:0.007224:0.003461
A significant proportion of the provisions are expected :@0.536260:0.624950:0.919306:0.624950:0.919306:0.614365:0.536260:0.614365:0.010828:0.004864:0.006762:0.003859:0.009186:0.009026:0.003859:0.004992:0.003859:0.007049:0.008117:0.009026:0.005183:0.005630:0.009058:0.005374:0.008899:0.008979:0.008899:0.005295:0.005199:0.003859:0.008723:0.008644:0.006044:0.008899:0.004784:0.004864:0.005406:0.009026:0.008069:0.005709:0.008819:0.005199:0.008899:0.007304:0.003859:0.006299:0.003859:0.008723:0.008644:0.006459:0.005199:0.007798:0.005295:0.007894:0.005199:0.008054:0.007129:0.008899:0.008054:0.006969:0.005199:0.007974:0.008979:0.004370
to be settled over the longer term. Consequently, :@0.536260:0.640627:0.883950:0.640627:0.883950:0.630043:0.536260:0.630043:0.005119:0.008979:0.006044:0.008309:0.007384:0.005199:0.006762:0.007846:0.005119:0.005199:0.003859:0.007814:0.008979:0.006044:0.008819:0.007304:0.007974:0.005295:0.004864:0.005406:0.009026:0.008149:0.005630:0.003859:0.008819:0.008723:0.009058:0.008054:0.005374:0.004864:0.005406:0.008341:0.005311:0.013428:0.003461:0.006363:0.009872:0.009010:0.008723:0.006762:0.007926:0.009154:0.008819:0.008054:0.008819:0.005199:0.003859:0.007479:0.003461:0.004370
these reductions in the long term rates have had a :@0.536260:0.656009:0.891860:0.656009:0.891860:0.645425:0.536260:0.645425:0.005199:0.009026:0.008006:0.006762:0.008006:0.005709:0.005550:0.008054:0.009058:0.008723:0.007129:0.005199:0.003859:0.008819:0.008723:0.006554:0.006044:0.003269:0.007639:0.005630:0.005406:0.008691:0.008054:0.006044:0.003524:0.008564:0.008309:0.008564:0.005709:0.005406:0.008022:0.005374:0.013428:0.006044:0.005374:0.007719:0.005119:0.007894:0.006459:0.006044:0.008644:0.007639:0.007304:0.007894:0.006044:0.008388:0.007463:0.008723:0.006044:0.006379:0.004370
considerable impact on the value of the provision.:@0.536680:0.671450:0.884130:0.671450:0.884130:0.660866:0.536680:0.660866:0.007049:0.008979:0.008819:0.006554:0.003859:0.009074:0.008054:0.005550:0.007719:0.009154:0.003859:0.007974:0.006044:0.003859:0.013348:0.009058:0.008117:0.007081:0.005199:0.004864:0.008564:0.008388:0.005630:0.005406:0.009026:0.008149:0.004784:0.007639:0.007894:0.003859:0.008723:0.008149:0.005295:0.009345:0.004752:0.004784:0.005406:0.008691:0.008054:0.006044:0.008899:0.005199:0.008819:0.007224:0.003604:0.006459:0.003604:0.008819:0.008564:0.003461
However, this is an accounting judgement that does :@0.537418:0.686833:0.903958:0.686833:0.903958:0.676249:0.537418:0.676249:0.010908:0.008979:0.011163:0.007974:0.007304:0.007974:0.005295:0.003269:0.005630:0.005406:0.008771:0.003859:0.006554:0.005630:0.003190:0.005709:0.005199:0.007639:0.008484:0.006044:0.007894:0.007129:0.007368:0.008994:0.008819:0.009026:0.005151:0.003859:0.008723:0.009154:0.004864:0.003859:0.009026:0.009393:0.009393:0.008341:0.013731:0.008341:0.009026:0.005406:0.004896:0.005406:0.009026:0.008117:0.005231:0.005199:0.008819:0.008723:0.007894:0.006379:0.004370
not change the underlying future payments that :@0.536998:0.702215:0.877783:0.702215:0.877783:0.691631:0.536998:0.691631:0.008564:0.008899:0.005119:0.005295:0.007368:0.008835:0.008117:0.008676:0.009393:0.007974:0.005199:0.005406:0.008691:0.008054:0.006044:0.008723:0.008644:0.008979:0.007974:0.005295:0.003859:0.007224:0.003859:0.008564:0.008979:0.005630:0.004992:0.009026:0.005406:0.009026:0.005550:0.008341:0.005677:0.009154:0.007798:0.007463:0.013348:0.008054:0.008819:0.005199:0.006762:0.004657:0.005406:0.009026:0.008117:0.005231:0.004370
will be incurred in meeting the obligations arising :@0.535823:0.717596:0.885475:0.717596:0.885475:0.707012:0.535823:0.707012:0.011530:0.003859:0.003859:0.003859:0.006267:0.008564:0.007559:0.006044:0.003604:0.008644:0.006969:0.008644:0.005295:0.005295:0.007894:0.008899:0.006459:0.003269:0.007559:0.006459:0.013348:0.007974:0.007974:0.005406:0.003572:0.008644:0.009058:0.005709:0.005406:0.008691:0.008054:0.005630:0.008979:0.009058:0.003859:0.003859:0.008979:0.007894:0.005199:0.003859:0.008979:0.008819:0.006762:0.005071:0.007719:0.005199:0.003604:0.006379:0.003604:0.008564:0.008899:0.004370
from claims when they fall due in the short term.:@0.536243:0.733274:0.877554:0.733274:0.877554:0.722689:0.536243:0.722689:0.004784:0.005550:0.008979:0.013348:0.006044:0.007049:0.003859:0.007559:0.003859:0.013013:0.006554:0.004784:0.011530:0.009202:0.008341:0.009202:0.005709:0.005406:0.009026:0.008149:0.007719:0.004705:0.004609:0.007719:0.003859:0.003524:0.006044:0.009058:0.008723:0.008054:0.005630:0.003269:0.007559:0.005709:0.005406:0.009026:0.008069:0.005295:0.006554:0.008723:0.009058:0.005550:0.005103:0.004864:0.005406:0.008022:0.005374:0.013268:0.003461