This new legislation establishes the legal framework authorizing the government to hack into devices, networks and services in bulk and to create vast databases of personal information on all UK citizens. This is a preliminary step for a movement to impose worldwide taxation on Brits.
This is really to hunt money, not terrorism.
The "snooper's charter" requires internet, phone and communication app companies to store records for 12 months and allow authorities to access them whenever they demand. That data will include anything you look at or search on the internet as well as all your telephone calls and text messages. Meanwhile, security agencies will be able to force companies to decrypt data avoiding the Apple confrontation in the USA. They are also imposing limitations on the use of end-to-end encryption.
They want EVERYTHING you do. This has ABSOLUTELY nothing to do with terrorism.
This is the hunt for taxes coming to a head in 2017.
Here's a reminder, via Wired.com's Matt Burgess, of what the legislation includes: