The UK is in talks to depart from using GDPR. This likely means one of two outcomes - neither of which are positive.
Option A - come up with their own privacy laws. This is iffy and is the path the USA is currently on. You end up with multiple laws that may by chance hit similar beats but may conflict and make it more difficult to be compliant. In this world, many companies will just ignore the privacy laws in the hopes that they won’t be caught - or that the legal jurisdiction they’re in makes it difficult to litigate.
Option B - roll back everything. This is bad for privacy, consumers, and citizens of the UK but good for businesses. As such, this is the likely path forward, given other recent actions taken by parliament.
If we continue to split up privacy laws, I’ve got a bad feeling about the future of the internet. I could foresee a future where it’s no longer open across country borders and becomes insular within each jurisdiction, sharing stamped out by bureaucracy.