Thanks for raising awareness about privacy again!
Similar bill was passed earlier this year in Russia. Unlike in UK, it actually raised lots of discussions and controversies in mass media. But that didn’t help much, so the bill still passed.
Last month I’ve read that Netherlands are also going for a similar bill.
My bet is that all EU will go for it pretty soon, especially when they have a big reason (excuse) of terrorist threat.
In Russia all similar law acts have “anti-terror” label.