Here is confirmation, if any were needed, that bureaucratic EU laws are damaging the economy.
The GDPR is one of the worst, and it’s not that effective in achieving its objectives either.
https://www.telegraph.co.uk/business...saster-better/
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‘We have ticked all the right boxes a hundred thousand times. We have clicked past reams of terms and conditions we have never had the slightest intention of ever actually reading. And we have accepted cookies, shared our data, and opted in for emails.
We already knew the European Union’s GDPR rules for managing the way data is used and shared over the internet were tedious, bureaucratic and overly complex. But now we know something else as well. The system has cost us billions, and made us all much poorer than we otherwise would be.
According to a new study from academics at Oxford University, the rules have had two dramatic impacts. They have significantly reduced the profits and sales of digital companies.
And even worse, the harm has been concentrated on the smaller companies, leaving the American tech giants such as Facebook and Google largely unscathed. It has turned into one of the worst pieces of legislation ever introduced.
There is little hope of the EU ever reforming it. Brussels does not admit to mistakes. But the UK should sweep the system away, and replace it with something more workable, before it does any more damage to our economy.
When GDPR – General Data Protection Regulation – was introduced in May 2018 it was meant to turn the digital economy into a safer, properly regulated space, where privacy would be protected, and data valued and looked after.
In the almost four years since then, EU officials have held the legislation up as a huge improvement in the way ordinary people are protected by better, smarter regulation.’