Proposed data bill to save UK economy £5 billion in 10 years

By Adewunmi Adedayo for International Business Times
Monday, March 13, 2023

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On Wednesday, the UK government introduced new data laws to minimise pointless paperwork for UK businesses and limit annoying cookie pops-up. The updated data reforms are expected to ensure £4.7 billion in savings for the UK economy over the next decade.

In his opinion, Dr Ilia Kolochenko, Founder of ImmuniWeb, and a member of the Europol Data Protection Experts Network stated: "The proposed UK data bill, more specifically as an underlying purpose of de-complexification, may serve as a laudable example to European (EU) lawmakers."

The founder of ImmuniWeb noted that among the fast-developing EU GDPR fatigue, changing laws between the EU member states and increasing costs of formal consent that hardly advances the "tick-a-check-box-and-forget "security", European companies would obtain an essential competitive edge on the global market. According to him, that is if EU GDPR passes through simplifications and improvements that are alike.

Kolochenko stressed the disservice done to businesses and European individuals because of the present EU's cybersecurity regulatory landscape, which is "commencing verging on over-regulation".

From 2023-2024, more EU-wide legislation on cybersecurity, AI, and privacy is coming, according to Kolochenko. And this often promotes narrowly compatible objectives and values, making compliance unnecessarily expensive and highly complicated.

He continued, "If the trend of overregulation persists, we will probably see a massive and deliberate non-compliance as costs and penalties for non-major infringements will likely be much less important than costs of a holistic implementation of the mushrooming EU cybersecurity regulations and directives." Read Full Article