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

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."

Michelle Donelan, Science, Innovation and Technology Secretary, said the data bill, co-designed with business from the start, will enable a vital data protection rule to be adjusted to suit the UK's customs and needs.

Donelan said the system would be comprehensive, complying with it would be effortless, and take advantage of various "opportunities of post-Brexit Britain". She added that UK businesses and citizens the country would no longer have to "tangle around the barrier-based European GDPR".

"Our new laws release British businesses from unnecessary red tape to unlock discoveries, drive forward next-generation technologies, create jobs, and boost our economy," said the Science, Innovation, and Technology Secretary.

The UK government stated that with the new changes, there will also be a rise in fines for nuisance texts and calls. The fines could be increased by up to four per cent of the global turnover or £17.5 million, "whichever is greater, and aims to reduce the number of consent pop-ups people see online, which allow websites to collect data about an individual's visit".

According to the government, the proposed UK data bill will also create a framework for using secure and trusted digital verification services, enabling individuals' identities to be proven digitally. This is if they want to do so by choice. The UK government explained further by saying the measures will enable customers more accessible access to certified digital identities that will enable it quicker and easier for customers to show themselves to be true, among other things.

The bill, strengthening the Information Commissioner's Office, will create a statutory board with a chief executive and chair. This is so that it will continue to be a globally leading, independent data regulator and help companies adhere to data regulations.