Fuck you Dave, you moon-faced twat.
That was the short answer...the slightly longer one:
No SSL = no internet trading (or a *MASSIVE* increase in losses by MITM attacks, take your pick).
No encrypted storage = no country in the world will do business with the UK as it would be breaking their data protection laws.
No encryption = no banking.
If he's pledged that if he gets in then the answer is simple...he doesn't get in. He has just proved himself incompetent to have any say in anything relating to IT.