British businesses to allegedly save billions under new version of UK GDPR

In an official press release published on the 8th of March, Technology Secretary, Michelle Donelan revealed the new Data Protection and Digital Information Bill that was first launched last summer is being introduced in a second iteration in parliament today. The bill is described as a ‘new common-sense-led UK version of the EU’s GDPR’ which aims to reduce costs and burdens for British businesses and charities, as well as removing the barriers to international trade.

The hope is that this strengthened data regime will save the UK economy more than £4 billion over the next ten years. The improved bill will among other objectives introduce a more business friendly framework to compliance, support international trade and increase confidence in AI technologies.

Michelle Donelan, Science, Innovation and Technology Secretary, said:

“Our system will be easier to understand, easier to comply with, and take advantage of the many opportunities of post-Brexit Britain. No longer will our businesses and residents have to tangle themselves around the barrier-based European GDPR”‘. 

Ben Seretny, Head of DPO at The DPO Centre, added:

“We absolutely recognise the benefit of offering much needed certainty for the future of the UK’s post-Brexit data protection regime after months of stalled progress and partial consultations, however there are unresolved concerns regarding the potential impact of many elements in the Bill. Questions still exist as to how diverging from the GDPR in a radical fashion may risk the valuable data transferThe movement of data from one place to another. This could be, for example, from one data controller to another, or from one jurisdiction to another. adequacy decision between the UK and EU, and if such a shift would potentially discourage further progress towards a UK-US data-sharing agreement at a time when the US is focussing its efforts on the larger EU market.

The further clarity expected as the Bill finally makes its way through Parliament is welcome, although the unwanted effect of requiring organisations doing business with Europe to follow two separate, and potentially conflicting regimes, may lead to a dramatic increase rather than reduction of red tape.”

According to the Impact Assessment completed as part of the processA series of actions or steps taken in order to achieve a particular end.. The data reforms are expected to unlock savings of £4.7 billion for the UK economy over the next 10 years. Also maintaining the UK’s data protection standards so businesses can continue to trade freely with global partners, including the EU.

Rob Masson, CEO at The DPO Centre, added:

” With the Bill potentially maintaining the all-important adequacy status with the EU, residents can rest assured that protecting their personal dataInformation which relates to an identified or identifiable natural person. will remain at the forefront of business priorities, whilst also allowing these organisations to drive growth and innovation.”

You can read the official press release here.