On Tuesday, 22 October 2024, the House of Lords European Affairs Committee sent a letter to Peter Kyle, the UK Secretary of State for Science, Innovation and Technology, outlining a series of conclusions and recommendations from its recent inquiry into UK-EU data adequacy.
The inquiry, launched in March 2024, focused on the challenges and implications the UK might face if the adequacy status was lost after the two EU data adequacy decisions under the EU General Data Protection Regulation (GDPR) and Law Enforcement Directive (LED) expire in 2025. The letter outlines that while the "political context has changed" in relation to the now-defunct Data Protection and Digital Information Bill (DPDI), elements of the Digital Information and Smart Data Bill (DISD) address some of the same issues.
In the letter, the European Affairs Committee chair, Lord Ricketts, said that a failure to retain adequacy status would "impose significant extra costs and administrative burdens" for businesses and the public sector. Lord Ricketts went on to say that such new barriers to international trade, economic cooperation, and trust in the UK digital economy would run "counter to the Government's objective of boosting economic growth."
The report estimates that the financial cost of losing adequacy status would cost UK businesses £1 to £1.6 billion in compliance costs.
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