UK to consult on holding software firms liable for cyber breaches

The British government will consult next year on how to hold technology companies liable for cyber breaches caused by insecure products. The pledge in budget documents follows an estimated £1.9 billion ($2.5 billion) hit to the UK economy from last year's Jaguar Land Rover hack.

• Consultation will build on the Law Commission's review of product liability law
• Jaguar Land Rover hack cost the UK economy an estimated £1.9 billion
• Budget commits £154 million to cyber defenses, including £70 million for National Exposure
• EU's Cyber Resilience Act allows fines up to €15 million or 2.5% of turnover