Not only your government. The Conservatives who proposed it. Labour who provided no opposition. But most importantly Ofcom, who comprehensively failed to implement a competent and reasonable solution.
Everyone could have done a lot better, and could have achieved the stated aims without so much damage.
Labour actively supported it and still do. I got this from my Labour MP:
The UK has a strong tradition of safeguarding privacy while ensuring that appropriate action can be taken against criminals, such as child sexual abusers and terrorists. I firmly believe that privacy and security are not mutually exclusive—we can and must have both.
The Investigatory Powers Act governs how and when data can be requested by law enforcement and other relevant agencies. It includes robust safeguards and independent oversight to protect privacy, ensuring that data is accessed only in exceptional cases and only when necessary and proportionate.
The suggestion that cybersecurity and access to data by law enforcement are at odds is false. It is possible for online platforms to have strong cybersecurity measures whilst also ensuring that criminal activities can be detected.