Market Watch

UK Passes Data Law to Boost Economy and Improve Public Services

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The UK government has passed the Data (Use and Access) Act, promising transformative impacts on society and the economy. This new law aims to pump £10 billion into Britain’s economy by reducing bureaucracy in public services and enhancing tech and science innovation. An exciting component is the real-time accessibility of healthcare data across all NHS systems, regardless of IT platform, saving 140,000 staff hours annually and expediting patient care.

Furthermore, the Act facilitates the development of hyper-personalized tech such as price comparison apps, which can reduce household bills. Energy consumers will now have greater control over their data, enabling them to make more informed and economical decisions about utility providers.

Technology Secretary Peter Kyle emphasized, “For too long, previous governments have been sitting on a goldmine of data, wasting a powerful resource which can be used to help families juggle food costs, slash tedious life admin, and make our NHS and police work smarter.”

The law not only promotes economic growth but also addresses social issues, especially for bereaved parents. It mandates social media platforms to preserve data when linked to a child’s death, aiding coroner investigations.

A breakthrough in infrastructure management is the proposed National Underground Asset Register, reducing data access time for construction workers from six days to six seconds. This will significantly expedite construction projects and roadworks.

Lastly, digital verification services will receive a boost, enhancing user trust and efficiency in identity proof processes such as renting and employment. This effort is projected to contribute £4.3 billion to the UK’s economy over the next decade.

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