This is the first time i've seen this: Google interrupts a search on google.co.uk with Privacy policy Notice, and you cannot proceed to use Google services until proceeding with the Privacy Policy notice.
The notice explains that nothing has changed, but it's clear it's there to ensure that Google has the users' acceptance of the privacy policy.
Note - I was not signed in, and if you are signed in, it will remember the choice across signed in devices and browsers.
Hitting "Next" brings you to more general text about what Google does in its process of tracking your activity.
At the end, it has a big blue "I Agree" button, or "Other options" which takes you through to ways of setting privacy.
To proceed, you have to hit the "I Agree" button. There are no other options.
Before hitting the button, a new window brings up the same interstitial.
I opened a different browser and I didn't get the interstitial at all.