Though you are not clear on your reasons for asking, I can only conclude you are trying to make a point. I detest this type of argument, it's equivalent to 'only people who have something to hide...'. The potential consequences so massively outweigh the potential benefits that it's almost a moral imperative to stamp this practice out.
In the very best case scenario it could be the cause of future embarrassment. It will destroy careers, snuff out potential great leaders, break marriages, finish friendships. Lies are a regrettable but essential part of a happy society.
In the worst it will be the basis of whether or not you get sent to a death camp by some future government in your country.
Even the best case scenario seems distasteful to me.
As for the article, glad to see I'm not the only one thinking those thoughts. Credit companies are a modern invention of quite freaky consequence. As for someone like Tesco running round with the shopping habits of a large majority of the UK, very worrying.
Trouble is it's all so overwhelming when you actually think about it, it's very easy to file under 'problem someone else should worry about' in your brain. It is one of these things that people will only lament when it gets abused.