I responded above to the ignorant
platinumsage's claims. But here there's some peculiar cognitive dissonance at work, as undermining the security of online communication isn't really in the interests of big business juggernauts. The people who are proposing this are remarkably ignorant and stupid - it'll work against their other stated objectives like growing the economy.
I also think you misunderstand the role of parliament. If big business juggernauts have already achieved a frightening level of surveillance (and they had many many years ago, see eg the 2005 book 'the glass consumer') then they were far ahead of the state's ability to regulate before the financial crisis. But why is this happening here, and not in eg France or Sweden or Norway or Spain? Is there something peculiar about capitalism or the legislature in this country? Or does your analysis need a spot of tweaking?