How the Data Protection Act's death will punish the UK economy
If the UK hands over data protection duties to the EU, it will scare off future foreign investment, says Tom Brewster.
Companies who want to make exciting products quickly, who subscribe to Facebook's 'Move Fast and Break Things' mentality, will only be put off by such stifling legislation. Why not just look elsewhere, Asia for instance, where regulators won't be breathing down their necks at each stage of a product's lifecycle? It wouldn't make business sense for them to stay in the UK or anywhere else in Europe. Put simply, the stakes are very high here.
Although the UK's data protection laws could do with tightening up, and the Information Commissioner's Office could show its teeth more when dealing with private companies, the European Commission is going too far with its plans. If the UK does let the Data Protection Act rot, it will put up another barrier for entry.
The EU's draconian plans will take us back to the dark ages where companies are choked by excessive regulation.
"Businesses like Ireland because of its tax laws and they like the UK because of its liberal data protection laws," said Stewart Room, partner at Field Fisher Waterhouse.
There are already a host of reasons why businesses don't want to settle over here. Capital gains tax is one, which effectively punishes those who take risks and win big, when they should instead be rewarded. Then there's the hefty income tax on the wealthy. The cap on immigration is another, potentially preventing talented techies from moving to the UK.
If the Government relinquishes control over data protection too, it won't just create a business environment as inviting and comfortable as a bed of nails; the EU's draconian plans will take us back to the dark ages where companies are strangled with red tape.
But does Room think the Coalition will keep the DPA alive? "They've already given it up," he said. Ah time to batten down the hatches then.
-
What businesses need to know about the update to Cyber EssentialsIn-depth Cyber Essentials was updated this April – what are the key changes?
-
Two US nationals sentenced for role in prolific fake worker laptop farmsNews The Americans were raising money for the North Korean regime by allowing fake IT workers to appear as legitimate US-based employees
-
"Consumer messaging apps were never designed to handle sensitive communications" – Government decision-makers are confused about messaging security, BlackBerry report findsNews Despite official warnings, they're still routinely using WhatsApp for confidential communications
-
‘Reducing reliance on foreign tech infrastructure is key’ to European tech success – and its survivalNews MEPs have once again called for decreased reliance on foreign tech infrastructure
-
EU lawmakers want to limit the use of ‘algorithmic management’ systems at workNews All workplace decisions should have human oversight and be transparent, fair, and safe, MEPs insist
-
Cyber pros say the buck stops with the board when it comes to security failingsNews Fines, sanctions, and even prosecution are all on the table when it comes to cyber failings, practitioners believe
-
‘Hugely significant’: Experts welcome UK government plans to back down in Apple encryption battle – but it’s not quite over yetNews Tulsi Gabbard, US director of national intelligence, has confirmed the UK plans to back down on plans that would see Apple forced to create a "back door" for authorities.
-
‘A huge national security risk’: Thousands of government laptops, tablets, and phones are missing and nowhere to be foundNews A freedom of information disclosure shows more than 2,000 government-issued phones, tablets, and laptops have been lost or stolen, prompting huge cybersecurity concerns.
-
Scania admits leak of data after extortion attemptNews Hacker stole 34,000 files from a third-party managed website, trucking company says
-
European Commission calls for cyber security proposalsNews With a special focus on healthcare, the Commission is looking to allocate €145.5 million
