The UK Parliament will debate the details of the new Data Protection and Digital Information Bill which is set to introduce new data regulations to the UK.

According to the government, the new bill will contribute £4.7 billion to the UK economy over ten years.

The new laws are said to do this by bringing more business friendly legislation to data regulation and requirements and provide “greater flexibility” for organisations.

Further the law will introduce more stringent fines for nuisance calls and texts, increasing them from £500,000 to either £1.75m or up to 4% of global turnover, whichever is greater.

A hallmark of the new bill is how consent to data collection will be managed. The government is parting with EU General Data Protection Regulation (GDPR) protocols to reduce the number of ‘consent pop-ups’ users see online.

Instead, UK government will collaborate with the Information Commissioner’s Office and industry to create a way for people to automatically set their data tracking and cookie preferences.

To regulate this move, the ICO will have a new statutory board with a chair and chief executive in order to strengthen the UK’s data protection laws and stay adequate with European authorities.

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Also included in the bill is a proposition to establish a framework for the use of secure digital verification services to make it easier for people to verify their digital identity.

The government remarked that the legal changes will improve the UK’s position to make international data deals “as a reward of Brexit.”

Data Minister Julia Lopez is expected to tell the House today: “This Bill will maintain the high standards of data protection that British people rightly expect.

“But it will also help the people who are using our data to make our lives healthier, safer, and more prosperous. That’s because we’ve co-designed it with those people, to ensure that our regulation reflects the way real people live their lives and run their businesses.”