Not surprised things are going this way tbh, they want a system close to what China has

This is the best summary I could come up with:

The idea that inspired the bill was relatively simple, scribbled down on the back of a sandwich packet by two experts, Prof Lorna Woods of the University of Essex and William Perrin of the charitable foundation Carnegie UK.

Imran Ahmed of the Center for Countering Digital Hate welcomed the passage of the bill saying "too much tragedy has already befallen people in this country because of tech companies' moral failures".

But digitalrights campaigners the Open Rights Group said the bill posed "a huge threat to freedom of expression with tech companies expected to decide what is and isn't legal, and then censor content before it's even been published".

Dame Melanie Dawes, chief executive of Ofcom, called the bill's passage through parliament "a major milestone in the mission to create a safer life online for children and adults in the UK."

"Very soon after the Bill receives Royal Assent, we'll consult on the first set of standards that we'll expect tech firms to meet in tackling illegal online harms, including child sexual exploitation, fraud and terrorism," she added.

There is a lot staked on the success of the bill - not only the safety of children and adults, but also the UK's ambitions as a tech hub and possibly, if things go wrong, continued access to popular online services.

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