In theory it is a good thing that everything you do online stays online forever. Including all the stupid posts, butt photos, kisses, etc. This, as some think also on
The truth is that we are in total not that open, which means that we do insult people with their past. We are cruel, we try to trick each other, and we cheat. And the failures of other always account for more than our own failures. In the old offline world, we had therefore different kinds of public. We had friends and talked with them and the rubbish we said was more or less forgotten next morning. We have a different personality in a business context, on holidays, at home, and when visiting a theater. And these are often even disjunct. Online all these worlds can merge. My political me and my business me are visible to everyone or at least not only to those I told it. If you are on twitter it is public to all. If you do it on Facebook it might only be visible to your "friends" but in addition it is visible to Facebook and everyone they sell your data to.
So in the end it must be possible to restrain information so that only a few people might be able to see your data. And that must be guaranteed. It must further be enforced that now company can force you to open up the data. However, this is hard to realizes, as they always can ask you to give the data willingly and if you do not, they do not hire you. Officially, they will tell something else.
The idea of the UK is not sufficient and it does not address the real problem, as it only helps you to erase data you know of. Not all the data that might be out there.