We're a UK company running a project that uses user-facing encryption and one of the issues for us is that it's totally unclear what this bill means.
I read the relevant sections 10 times over but until this is tested in court we don't know. I don't want our company to be the test balloon though, so I'm hoping a larger company steps up and challenges some of the provisions.
Of course the "internet connection record" retention is really sad. Right now the use cases are very specific but I'm sure new use cases will be found soon with the usual reasoning (terrorists, etc)