EU reforms 'put £300bn digital market in jeopardy'

The UK marketing industry might well be patting itself on the back for a job well done in fighting the worst excesses of the EU data protection reforms, but other business groups have attacked the laws claiming they will stifle growth.
Digital Europe – a body that represents the likes of Google, Apple and IBM – claimed that the anticipated €415bn (£300bn) revenue expected to come from the Digital Single Market is now under threat.
In a statement it said: “While we acknowledge that the instrument may bring greater consistency to the varied interpretations of data protection laws across Europe, the result fails to strike the proper balance between protecting citizens’ fundamental rights to privacy and the ability for businesses in Europe to become more competitive.
“We fear that the text agreed upon between the European Commission, European Parliament and the Council of Ministers will undermine the ability of businesses in Europe to invest, innovate and create jobs.
“We call on the future European Data Protection Board to show the necessary openness to work with industry moving forward so that the best outcomes are achieved.”
And US business lobby group Amcham has also waded in claiming the reforms will derail fast-growing global industries, such as data analysis.
It said: “Amcham EU’s members take the right to privacy very seriously and we are concerned that the agreed text on General Data Protection Regulation falls short of striking a balance between stimulating innovation and protecting personal information.”