In the end I created a UI with the number of tiers I needed and that seemed to work.
The only issue I haven’t worked out yet is that if I have 5 tiers with different discount amounts it only shows the title of the discount rule which is generic “Loyalty scheme” whereas I would like “Loyalty scheme 5%”, “Loyalty scheme 10%” etc.
I guess there would be a performance impact if you allowed a lot more automatic discounts as it would have to check them all and then work out which apply and which don’t etc.
Cheers Dan