E-Bill `to cost pounds 500,000'
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE GOVERNMENT forecast yesterday that the cost to industry of complying with the new e-commerce Bill is only likely to reach pounds 500,000 in the first year.
The main compliance cost will be adhering to a new voluntary statutory approvals scheme for companies that want to offer electronic signature services, which the Bill will give legal recognition to for the first time.
Encryption services that can verify that the electronic signature on a transaction is genuine lie at the heart of e-commerce. According to estimates published yesterday by the Department of Trade and Industry, the cost of the encryption approvals scheme could be between pounds 10,000 and pounds 30,000 for a medium-sized company and pounds 500,000 for industry overall in the first year.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments