Yes its madness. Note also that as an alternative to all the law going pop (the default position if government does nothing), the government (not parliament) can decide to replace and amend laws with alternatives they consider "appropriate".
I mean why even bother having a parliament, we could just let our corrupt government set all the rules with no oversight whatsoever.
How Parliament can vote for this with NO idea of what the government actually plans to do with respect to each law (or even, entire policy areas), I don't know. If this gets passed it's pure wild west territory for the UK and is frankly very bad news for everyone, whether business owners, employees, employers or consumers.
To give one example in my domain (consumer law):
- your right to return products bought online within 14 days for any reason - gone.
- your right to protection from unscrupulous business practices including aggressive and misleading behaviour - gone.
- your right to be subject to fair terms and conditions that are not unreasonably one sided and which make sense to you as an ordinary person, not a lawyer - gone.
This is not about getting Brexit done. Brexit has happened. If we want to take back control of our laws then fine, but do it properly and consider what alternative law is appropriate. The answer cannot be "none" by default.