23/11/2020

New Economics Foundation

The cost of no adequacy decision up to £1.6bn

A new report published by the New Economics Foundation and UCL European Institute outlines the economic cost and implications of the UK not receiving an adequacy decision from the EU following the end of the Brexit transition 31st December. Costs to UK firms due to additional compliance requirements, such as setting up standard contractual clauses, would be between £1 billion and £1.6 billion.  Download the full report.

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EU, UK Flags, Brexit, Data Transfer, Adequacy

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