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How much data can UK store?

I've been mulling the UK government's plans to require ISPs to store details of all online communications and web pages browsed this week, but not from a privacy standpoint.

 Rather, I'm wondering just how feasible the plan is - how much data are we actually talking about here, and is it even possible to keep all that on record for a year?

 Think about how many websites you browse in a single day. The articles you read, holidays you plan, or goods you research and buy. Then consider the number of e-mails, instant messages or SMSes you send during that same day, and throw in the odd VoIP call for good measure.

 I'll be looking for stats to see if I'm right, but if I am, it seems like a staggering amount of data to find storage for.