GCHQ is Britain's final stand in staying a player that is relevant globally. It is clear that GCHQ is allowed a lot of leeway because the 'intelligence' gathered keeps the British relevant in the eyes of (mainly) the NSA, which in turn secures the British their seat at many a negotiation table.
What is ironic is that GCHQ is doing all this at the expense of the British people, whose interest they should be serving.