There are loads of good reasons to be concerned.
Who will they exclude from Human Rights protection...prisoners? foreigners? those with severe mental health problems? armed forces in combat zones? If you think that it is a splendid idea, think about the claim brought by service personnel for the failure to supply adequate protective equipment.Here are 50 cases from the splendid people at Rights info showing the range of cases currently brought rightsinfo.org/infographics/fifty-human-rights-cases/ covering torture, phone tapping, the rights of disabled people, children's rights, victims of crime, free speech, privacy, gay people etc etc
Many people are happy in theory for other people rights to be restricted (the bad guys), but not for themselves (the good guys). However history shows that who falls out of political/ society's favour can often be unexpected and change over time. So people protesting against fracking or airport expansion (often pillars of the community) may lose their Human Rights protection under new law if greater rights given to commercial interests.this was shown very much int the behaviour of the Met's undercover police officers infiltrating environmental protestors and the family of Stephen Lawrence. Remember in recent days that one of the biggest campaigners against the HRA, the Daily Mail has recently relied on it themselves.
www.pressgazette.co.uk/daily-mail-has-attacked-the-human-rights-act-whilst-also-seeking-to-shelter-behind-it/
How will they balance competing rights? Will they give more powers to press barons to breach privacy under the context of freedom of speech? Or prevent journalists printing information about politicians like Keith Vaz under the right to private life? The interests of landowners or corporate rights over people protesting about pollution?
What cases can be brought? The Government have already flagged up they want to exclude trivial cases- but what constitutes such cases as one persons trivial may be important to someone else
thinkinglegally.wordpress.com/2015/05/19/human-rights-act-are-these-cases-trivial/
In what courts would the right be exercisable? Currently the Human Rights Act allows arguments to be brought in the lowest courts and tribunals in England and Wales. what if they decide it can only be High Court or even back to the EHRC?
Will public bodies continue to be required in law to protect human rights? Currently they are required to to treat everyone with fairness, equality and dignity. See the Driscoll case as an example of that (where possible not separately out couples in care homes)
What will this tailoring of human rights to the ill explained concept of "British values" mean for our international standing and influence? As QC Sean Jones said "If Human Rights can be trimmed to match "British Values", what's our answer when Iran hangs gay people saying that reflects Iranian values?"
Anyway there is loads of brilliant material out there such as at rightsinfo.org/. please check it out (and I don't work for them!)