There's a new (and completely unsurprising) development being quietly shuffled through as function creep to avoid anything more than a vague pretence of scrutiny. The current government will be extending the law to make it illegal for communication companies (including but not limited to ISPs) to use encryption. They can (and probably will) pretend to use encryption for advertising and compatibility purposes but they will not be allowed to actually use encryption.
The draft is available here:
https://www.openrightsgroup.org/our...owers-(technical-capability)-regulations-2017
The most obviously relevant bit is schedule 1 part 1 section 8. It makes it mandatory for encryption to be easily broken, i.e. not encryption.
That would, of course, break key parts of the net. All HTTPS pages (these forums, for example) would have to be covertly turned into HTTP pages because HTTPS is encrypted and therefore would be illegal under these rules. All financial transactions would be broken for the same reason, since they too use encryption.
The UK government might pretend that encryption would be broken only when they want it to be, but that's a silly lie from the people who claimed that using hashtags would make it impossible to post anything to any social media if they didn't approve of it. If encryption is broken, it's broken. It's just a matter of how broken. Other sections spell out that UK comms companies must be able to decrypt thousands of users simultaneously in realtime. The encryption would have to be very badly broken to make that possible. Broken enough to make to broken for pretty much anyone who cares to break it, even if the many thousands of people who would have access to the "skeleton key" kept it secret (wildly implausible) and no computer containing it was ever compromised (wildly implausible).
If I ran a business outside the UK, I wouldn't do business with the UK under those conditions. It's foolish to trade with somewhere that has such ludicrously inadequate security. It would probably be illegal in some places, since you'd probably end up exposing your customers outside the UK