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As others have said, it should have been opt-in and not opt-out.
The problem with that is the opt-in rate would be very low so the data would have much less value.
Why would people bother to opt-in? There is no particular benefit to them and it requires doing something. Look at the cost and effort, and legal compulsion, with the census.
I don't think the opt out rate will be high enough to affect anything really. A quick google shows it was just 2.74% back in March 2019. Even if it hits 10% it's not going to affect much research.
I'm part of several trials at the moment (ONS/IQVIA Covid study, STRIDES donation study, and something else I can't remember right now) but they have explicit opt-in so they shouldn't be affected by me opting out of the general NHS one.
As others have said, it should have been opt-in and not opt-out.
Reminds me, need to fill in the other form and get it to my GP soon.