UK government to digitise archaic trade laws

Under laws that date back to 1882, firms shipping goods into and out of the country must trade physical documents, from invoices to bills assuring goods have been shipped.

Digitising trade documents could generate £25billion ($26.8 billion) in economic growth by 2024, and savings of £224billion ($2.40 billion).

The Department for Digital, Culture, Media, and Sport submitted proposals for legislation on electronic trade documents to be included in next month’s Queen’s Speech.