What are the implications of the Retained EU Law (REUL) on the engineering & technology sector?

At the IET we are looking to comment on the Retained EU Law (REUL), which is having its 2nd reading in the House of Lords on 6 February, having already progressed through the House of Commons.  The essence of the Bill is that EU law that has been adopted in the UK will automatically expire on 31 December 2023 unless specifically retained by the UK.  REUL also gives more extensive power to Ministers to decide what laws to retain without the usual parliamentary scrutiny.

I’d like to get your thoughts on the potential impact of REUL in your own sector, with specific evidence where possible.  My questions are:

  1. Does the prospect of losing EU law have direct / indirect implications for your engineering / technology sector?
  2. If so, in which particular areas, to what extent and who will it impact?
  3. Would you welcome the deregulation of engineering and technology safety practices?
  4. What are your suggestions on the best way forward with the legislation?

 Thank you for your responses.