Introduced in Parliament last week, the bill aims to boost economic growth while protecting privacy.
The shadow of the UKs withdrawal from the EU looms large over the plans.
In its pitch for the bill, the government pledges to unleash an elusive Brexit dividend.
No longer will our businesses and citizens have to tangle themselves around the barrier-based European GDPR.
Thats the plan, at least but its already proved divisive.
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In 2021, it generated an estimated 259 billion and 85% of British service exports.
The DPDIB envisions further rewards from simplified legal requirements.
All data regulations have to balance protecting people and promoting innovation.
Under the GDPR, many companies became frustrated with the bureaucratic burdens.
The DPDIB aims to tip the scales back towards business benefits.
It was essential to clarify confusion and simplify administrative burdens.
He expects the bill to provide a catalyst for innovation, while maintaining theprivacyprotections needed for consumer trust.
The lighterregulatory load is proving popular.
Chris Vaughan ofTanium, an endpoint security company, says the new rules are more straightforward than the GDPR.
Relaxing rules, however, can also increase risks.
He also worries that the bill is legislating too many complex issues at once.
Hayhurst is particularly struck by the implications forAIin research.
This could create big opportunities for businesses building AI with data collection.
This is one area where a one size fits all approach doesnt deliver for consumers.
The digital economy
Despite his misgivings, Hayhurst acknowledges that the government has responded to feedback.
However, concerns remain that businesses will be held to lower ethical standards.
The government is selling out personal privacy for business benefits.
asks Angel Maldonado, CEO of e-commerce firmEmpathy.
Michael Queenan, CEO and co-founder ofNephos Technologies, takes the criticisms a step further.
The government has decided to sell out personal data privacy for business benefit and innovation, Queenan tells TNW.
Why else would it remove important, already adopted, global data protection steps?
One motivation may be the potential savings.
As previously mentioned, the reforms are predicted to unlock 4.7 billion for the UK economy.
But evidence for this claim is hard to find.
The government references the figurewith a link, which has been broken since we first saw the announcement.
Criticssuspect that the 4.7 billion estimate has little basis in reality.
GDPR arrangements
Divergences from the GDPR are a recurring theme in pitches for theDPDIB.
The government has emphasised the benefits of these deviations, but they also threaten data transfers with the EU.
The UK currently has EU data adequacy status, which protects the flow of data between both jurisdictions.
MEPs, however,have taken issuewith Britains planned reforms.
If they decide that the new bill doesnt meet the requisite standards, the adequacy agreement could be lost.
As a result, companies sellingin both the UK and EU would have tocomply with two sets of laws.
The government has, however, publicly stressed the importance of maintaining data adequacy.
Some privacy experts are also confident that the new measures will fulfil the EUs requirements.
Yet even ifthe UK retains data adequacy, firms that trade in the EU must meet the GDPR standards.
Consequently, the main beneficiaries of the new regime may becompanies that only operate in the UK market.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
