CBI: EU DP proposals harmful for UK business
The Confederation of British Industry (CBI) has criticised the European Commission’s data protection proposals, saying that the proposed regulation will threaten many innovative business models which rely on data sharing to generate revenue.
The CBI says that compliance will also place a cost burden on all businesses, and urges the Commission to look for a proportionate, risk-based approach.
The CBI calculates that compliance costs, such as changing IT systems, re-training staff, and re-issuing customer terms and conditions would cost, for example, a call centre, around £100,000. It estimates that appointing a Data Protection Officer will cost between £30,000 and £75,000 per year. One major international finance provider estimates that the total cost of drafting, administering and sending a letter to existing retail customers about policy changes would cost around £15 per person.
The CBI submitted its views as a response to the call for evidence by the Ministry of Justice. See the full response of 16 March.
The Ministry of Justice received some 100 responses. It is expected that the results will be published 4 June 2012. Read more about UK views on the EU proposals and next steps in the PL&B UK Report, issue 60.