“Our report concludes that no adequacy decision has the potential to contribute to undermining the competitiveness of the UK`s key services and digital technology sectors, which have developed extremely strongly in recent years. While we don`t want to exaggerate the impact – and no adequacy decision is far from being an economical Armageddon – this outcome would not be ideal,” they add. The UK is currently negotiating an adequacy decision so that data can continue to flow freely. The Guardian recently announced that a deal was close, but since then there has been a withdrawal from that position. But it may just be the sound and anger of the final stages of the process to strike a deal. The researchers argue that more research is needed to support a broader macroeconomic assessment of the value of data flows and adequacy decisions – and argue that there is a lack of research on “the value of data flows and adequacy decisions in general” – before adding: “Data flows between the EU and the UK are a crucial catalyst for thousands of companies. These flows underpin core activity and activities, which create significant added value. This is not just a problem in the digital technology sector – the entire economy depends on data flows. The adoption of an adequacy decision includes a proposal from the European Commission, an opinion from the European Data Protection Board, the approval of representatives of EU countries and the adoption of the decision by European Commissioners. “I cannot now predict whether it will be so easy and without further negotiations for a possible adequacy decision, as we do not know whether or not the UK will introduce changes in its national legislation that could deviate from the general line of the General Data Protection Regulation,” Jourová said. EDP President Andrea Jelinek replied that “the agreement between the UK and the US must be taken into account by the European Commission in its overall assessment of the level of protection of personal data in the UK, in particular as regards the requirement to ensure continuity of protection in the event of `onward transfers` from the UK to another third country”.
Given that many UK organisations are unaware that some or all of their data is almost certainly processed, stored or hosted in EU data centres, or transferred to or from Member States, at least temporarily, the impact of inappropriate data may be appropriate (see diginomica, passim). Blaming California`s cloud marketers for convincing a generation of executives that their data hovers in the sky instead of sitting on servers ashore in low-cost industrial facilities. The UK is now on the road to building a new global trading relationship. We already have a number of rolling free trade agreements, but it is a question of expanding. This is, so to speak, the puzzle, a trade agreement. The opportunity for the UK, in a way, is to be the bridge between the EU and the GDPR and the rest of the world. The opportunities for the UK lie in this kind of broader governance framework for the digital economy, which thinks about ethics, how ethics should affect the development of new laws and regulations. .