Everyone knows that regulation are burdensome and a net drain on the economy. If people cannot trust their banks, it just means they will live with the consequences of their decisions. Weak men who cannot calculate risk should not have money anyways. I for one look forward to a return of wildcat banks, massive fraud, and increased market panics.
The Tory government policies are very unfortunate, pigheadedly ignoring basic math and reasoning. Backdoors do not work.
Several issues come to mind. Where is the City in this? I can't imagine all the financial infrastructure in the UK will be happy about weaker controls over security. What would Lloyds or Coutts say regarding government mandated backdoors?
UK has set a stronger policy of government support of the private sector with cybersecurity as well. They would be giving that up. NCSC and other governmental organizations and regulators have been remarkably effective at promoting a new path forward for the British economy. This places all their good work in jeopardy.
I must expect Labour will make hay of this as well. The Tories will be destroying good jobs. Britain cannot afford many more tech positions or firms leaving for the US or Canada.
I logged in after more than a decade to say this:
MLK didn't write the Constitution.
Keep the number of passes in a compiler to a minimum. -- D. Gries
