"there is something in the Home Office "
There is.
It's a cabal of senior civil servants who believe access to more data is always better data and access to all data (forever) is best of all. It has nothing to do with "security" "money laundering" or paedophiles.
It has every thing to do power. the ability to find out at will what anyone, anytime has done online throughout their life.
It is Cardinal Richelieu line about "Give me 6 lines from an honest man and I'll find something with which to hang him."