Knowledge Collection | UK government U-turns, energy revenue limits, and transatlantic data adequacy
Published on 21st Oct 2022
Welcome to this week's Knowledge Collection
It has been an extraordinary week in UK politics, culminating yesterday in the resignation of another prime minister (after only 44 days in office) following a change of chancellor and a series of policy U-turns. These included the IR35 reforms – now no longer to be repealed – and the reversal of most of the rest of the previous month's "mini budget". We look at which measures the newly appointed chancellor still plans to take forward and which he has ditched, ahead of the medium-term fiscal plan intended to be held on 31 October. (Although this planned timescale predated the resignation of the prime minister – a new leader of the Conservative party is expected to be selected by 28 October.)
Last week, the government also introduced an Energy Prices Bill as emergency legislation. It contains various measures intended to address the impact of the energy crisis on consumers, including the introduction of revenue limits on renewable and nuclear generators, which could have a significant impact on the sector.
As interest rates start to climb in the UK, we consider how this is impacting litigation, with parties increasingly focusing on the amount of interest they can claim in relation to their cases.
Elsewhere, the signing of an executive order by US president Joe Biden following EU-US bilateral discussions on transatlantic data flows paves the way for a new data adequacy decision. This could be adopted in spring 2023 and would aim to address post Schrems II legal uncertainties on transferring data to the US. The UK has also been conducting bilateral talks with the US, and a joint statement was issued which could also herald a UK-US adequacy regulation in early 2023. Next month, we are hosting webinars on transferring personal data out of the UK and also giving a data protection round-up.
At the end of the month, we are running a decarbonisation week of webinars in advance of COP27, and November sees the return of our annual in-house lawyer series. This year, the programme includes a mix of talks and panel sessions covering how to navigate distressed supply chains, ESG and climate risk, the latest in data protection, consumer and employment law, updates on privilege, and forthcoming developments in digital regulation that will affect businesses across all sectors.
Insights
UK government U-turns on package of tax cutting measures
The new chancellor, Jeremy Hunt, made a statement on 17 October to reverse the majority of the tax cuts that had been announced by his predecessor at his emergency fiscal event on 23 September.
IR35 regime to stay as is, UK chancellor announces
Jeremy Hunt has announced that the IR35 reforms of 2017 and 2021 will not now be repealed from April 2023. Staffing companies and end clients will continue to be liable for personal service company (PSC) contractor tax.
UK government signals major changes to pricing in the energy market
The Energy Prices Bill, as drafted, provides the Secretary of State with wide-ranging powers to introduce schemes to implement policy announcements, but provides little detail on how these schemes will operate or the revenue limit that will be imposed.
Biden paves way for EU-US Data Privacy Framework and UK-US adequacy agreement
Is post-Schrems II legal certainty on the horizon for transatlantic data processing?
Litigation Brief
This edition considers how rising interest rates are affecting claims, two recent cases on early termination of contracts, how to obtain information from third parties situated overseas when pursuing a claim, and more.
Events
Decarbonisation Week
Our week of webinars will provide an international overview of the key decarbonisation themes impacting businesses and legal teams in the year ahead.
Looking back at COP26 and ahead to COP27| 31 October | 09:00-10:15
Decarbonisation Regulation: an international overview|31 October | 16:00-17:15
Extended producer liability and greenwashing risks | 02 November | 09:00-10:15
Green financial instruments|03 November | 09:00-10:15
Greening your fleet|04 November | 09:00-10:15
Communications Review 2022
10 November | 14:30-19:30
Our annual round-up of topical legal, regulatory and business issues in the UK and Europe for the telecoms industry takes place in person, in London, at Chartered Accountants' Hall. With a combination of presentations, panel discussions and break-out sessions, we will look at recent market, legal and regulatory developments, and investment and M&A trends in the sector.
Dipping into Data | Transferring personal data out of the UK
15 November | 16:00-16:30
We will consider the UK's addendum and International Data Transfer Agreement, and the ICO's international data transfer risk assessment tool and assess how the new documents operate in the light of the ICO's guidance.
In-House Lawyer Talks 2022
21 – 24 November | 10:00 and 14:00
Our annual in-house lawyer programme this year focuses on core knowledge topics relevant to your day-to-day work.
Navigating distressed supply chains |21 November | 10:00-11:00
Delays, defects, disputes – supply chain disruption is always a risk in the ordinary course of business, but global challenges now mean that this is a key risk for many businesses.
Employment law update | 21 November | 14:00-15:00
We will look at the difficult legal and practical questions that arise in the course of internal investigations and consider some of the wider employment issues for employers to be prepared for in the current economic climate.
The ESG agenda: how to avoid climate-related risk|22 November | 10:00-11:00
Our panel of speakers will consider areas of risk and opportunity, covering greenwashing, climate-related litigation, green tax incentives and climate-related financial disclosures.
Dark patterns and the latest developments in UK consumer law| 22 November | 14:00-15:00
The UK is proposing to make some major updates to consumer protection law, in addition to numerous recent changes to consumer law in the UK and EU. This session will provide an update of developments.
Digital regulation: the cross-sector impact of what is coming down the track |23 November | 10:00-11:00
Digital regulation is increasing significantly in volume. As all sectors digitalise and data-driven digital business models proliferate, it is also expanding considerably in scope. This session will give an overview of this growing field.
Data protection round-up | 23 November | 14:00-15:00
We will discuss recent developments and trends, including data transfer risk assessments, the UK legislative and regulatory regime, and how to handle data subject access requests when they are being used tactically in litigation to obtain early disclosure.
Harnessing the power of your IP: the importance of a fit-for-purpose IP strategy | 24 November | 10:00-11:00
Devising a comprehensive IP strategy is key to ensuring that your IP portfolio is fit for purpose and is positioned to become a revenue-generating asset.
How to protect your privilege | 24 November | 14:00-15:00
This session will provide an update on the key case law decisions on privilege since last year and provide practical tips in light of those decisions.
