Minister of State for Enterprise, Markets and Small Business
(): The government has
today published a Roadmap which sets out what action it will take
over the coming year to progress a Smart Data economy as a result
of the new powers in the Data Protection and Digital Information
Bill.
The data economy is a large and growing part of the economy.
Smart Data unlocks data for individuals and businesses that is
currently held and underutilised in a small number of existing
companies. It allows businesses to easily access this data, with
consumers consent, to provide new services that drive investment,
productivity, competitive outcomes and ultimately economic
growth.
The Data Protection and Digital Information Bill was introduced
to the House of Commons in March 2023 and passed Second Reading
in the House of Lords on 19 December 2023. The Bill will provide
the government with the powers it needs to deliver the benefits
and safeguards required for a Smart Data economy, including the
ability to mandate industry involvement in Smart Data schemes.
The Roadmap sets out how the government will use these powers
over the coming year by identifying the opportunities and
challenges in implementing Smart Data schemes in seven sectors:
energy, banking, finance, retail, home-buying, transport and
telecoms.
This will help business and interested groups plan for and
benefit from action in this area.
This delivers on the commitment made at Autumn Statement 2023 to
kickstart the Smart Data Big Bang.
