As usual, the poorly thought through proposal leaves the door open for hackers to extract data and potentially abuse it.
Companies such as Apple, Google and others will no longer be able to offer encryption so advanced that even they cannot decipher it when asked to under the Investigatory Powers Bill UK Net Firms Will Be Banned From Using Strong Encryption [telegraph.co.uk]
Measures in the Investigatory Powers Bill will place in law a requirement on tech firms and service providers to be able to provide unencrypted communications to the police or spy agencies if requested through a warrant.