Snooping Bill: RIP could cost UK £46bn

The Regulation of Investigatory Powers Bill will cost the UK £46bn over the next five years, according to a report released today.

The costs will come from lost business, the relocation of businesses to other countries and the price of implementation of the bill. The report - commissioned by the British Chambers of Commerce (BCC) - says the bill will cost ISPs alone £640m over the next five years.

The report highlights many problems, including broad definitions used in the Bill which make it impossible for businesses to calculate how they will be affected.

It says the Bill will reduce trust in ecommerce, put onerous rights on individuals and create legal problems inhibiting investment in the UK.

It also claims the legislation will force businesses to set up operations outside of the UK.

Furthermore, the Bill is likely to breach the European Convention on Human Rights and the newly instituted Data Protection Act.

The director general of the BCC, Chris Humphries, called on the government to make wholesale changes to the Bill.

The so-called 'Snooping Bill' aims to construct a framework for the monitoring of encrypted information over the Internet. It is due to undergo committee stage in the House of Lords today where possible amendments will be debated.

The report was carried out by the London School of Economics for the BCC.