Do you understand the significance of being a member of the EHCR for our economy?
Firstly, if the UK wants to continue to easily share personal data with the the EU, which incidentally took lots of years to rectify following the Brexit shambles, then the UK needs to demonstrate an ability to provide an adequate level of data protection which is assessed by the EU. Membership of the EHCR indirectly supports adherence to fundamental rights including privacy and data protection, these are the principles that underpin the GDPR and ensures our 'adequate' levels of protection in the eyes of the EU commission. Why would you want to revert to the challenges post Brexit of sharing personal data in a service economy like the UK has? It would be a huge, gigantic blow and set back to the UK economy making us all worse off!
Secondly, in terms of the UK-EU Trade and Cooperation Agreement (TCA) the TCA explicitly commits both parties (UK and EU) to respect the ECHR, this is a foundational element for security cooperation, judicial cooperation, and data sharing. Withdrawal from the ECHR would likely break this commitment, weakening the UK’s standing under the TCA. Again, how is that going to help the UK economy?