True but surely everytime you use a credit card or debit card a similar log will be made. Its not easy to avoid existing on a register these days there's only so much room in the woods
Firstly you can use cash, which if you care about your privacy you should use as much as possible and limit your card use. Secondly in order to obtain information held by your bank or credit card company the Government historically would have needed to obtain a court order, they still now require a fair amount of effort at least with some kind of overview under RIPA.
The Log on the National Identity Database can be accessed without your consent and without any form of court order by the Ministry of Justice, The Department of Work and Pensions, The Transport department, The Security Services, the Police, GCHQ, the Home Office to name a few. Future departments and approved third parities can be added simply with a new statutory instrument, which is what happened over the summer. You are giving the state complete control over your identity and access to your personal information .