Responding to the General Data Protection Regulation (GDPR) text agreed today by EU Justice and Home Affairs ministers, the IoD has warned that the proposals could leave businesses of all sizes facing significant burdens and uncertainty from the raft of new obligations.
Allie Renison, Head of Europe and Trade Policy at the IoD said:
“These proposals threaten to severely undermine businesses’ scope to innovate and create new and exciting products and services. This would hit not only businesses operating in the UK’s world-leading digital and creative industries, but consumers, who benefit from cutting-edge online services and economies across Europe.
“The new legislation needs to maintain an appropriate balance between legitimate protection for individuals and policies which are proportionate and reasonable for business to implement. That balance appears not to have been found. These proposals would saddle businesses with a host of new liabilities, create obstacles that will make it even more difficult to do business. The punitive fines which have been proposed for data breaches could even bring entire companies down.
“The challenge for the European Council and European Parliament is to restore a workable balance to the proposals. The Parliament must compromise and understand that the EU’s role is not to generate jobs in compliance, but help to foster a dynamic and entrepreneurial economy. A modern approach to data protection regulation is essential, but the current proposals are just another burden on businesses which threaten much-needed foreign investment and job creation across the continent.”