Software companies must be held liable for British economic security, say MPs

A report by the Business and Trade Committee warns that the lack of liability for software vendors poses significant risks to Britain's economic and national security. The committee highlights that economic threats are increasing and calls for government action to manage these risks. It recommends three specific measures to enhance cybersecurity: introducing liability for software developers, incentivizing business investment in cyber resilience, and mandatory reporting after cyber incidents.

The report follows notable cyberattacks, including one on Jaguar Land Rover, which underscored the disruptive impact and potential public costs of frequent cyberattacks.