When all three of these scenarios are taken into account, the Financial Memorandum estimates that overall costs for the scheme may range anywhere from £300m to £600m,iiRedress for Survivors (Historical Child Abuse in Care) (Scotland) Bill, Financial Memorandum, p.7, para 20 with the medium uptake scenario likely to lead to costs of £300m to £350m, based on an average payment in the region of £30,000 per applicant (estimated at 11,000 applicants and excluding administration and associated costs).viRedress for Survivors (Historical Child Abuse in Care) (Scotland) Bill, Financial Memorandum, p.8, para 24
Further assumptions are made to inform this estimate, including that most of those applying to the scheme will opt for the individually assessed payment option, rather than seeking a fixed rate paymentviiRedress for Survivors (Historical Child Abuse in Care) (Scotland) Bill, Financial Memorandum, p.9, para 26...