The government will extract your confidential data soon unless you opt out. Your data will be pseudo-anonymised, meaning you cannot be immediately personally identified.
It is unclear how this data may be used in the future and the government plan to allow unspecified third parties to access the data.
The government will continue to hold the “key” to unlock the encryption.
The data extraction has not been widely publicised but there have been some media articles recently;- Guardian, Financial Times, Computer Weekly, The Register, which have highlighted concerns about what may happen to your data once extracted.
Below are links to two sites which discuss the issues along with a link to the government’s own discussion page.
This is an important issue and it is important individuals retain the right to choose what to do. I hope the information provided helps.
And this is the link to the government’s own “mythbusting” website.