When the draconian provisions of the various Terrorism Acts were proposed, spin doctors were out in droves insisting that none of these would be invoked except in cases of real terrorist threat. Here is what the Home Office website says is in the act:

The measures are intended to:

- cut off terrorist funding

- ensure that government departments and agencies can collect and   share information required for countering the terrorist threat

- streamline relevant immigration procedures

- ensure the security of the nuclear and aviation industries

- improve security of dangerous substances that may be targeted/used by terrorists

- extend police powers available to relevant forces

- ensure that we can meet our European obligations in the area of police and judicial co-operation and our international obligations to counter bribery and corruption

Do you see anything there that could justify action against Icelandic economic interests?

The point isn't to do with the Iceland problem; it's that once a measure is on the statute book, all the promises made beforehand go out of the window, because they aren't part of the law, and the measures can be used for anything that is currently useful to the government.