The Times reports:
Ministers are considering spending up to £12 billion on a database to monitor and store the internet browsing habits, e-mail and telephone records of everyone in Britain.
GCHQ, the government’s eavesdropping centre, has already been given up to £1 billion to finance the first stage of the project.
Hundreds of clandestine probes will be installed to monitor customers live on two of the country’s biggest internet and mobile phone providers - thought to be BT and Vodafone. BT has nearly 5m internet customers.
It seems likely that private contractors -- in addition to the government -- would have access to this stored data. Any way you look at this, this proposal sounds crazy.