Fl1ingfrog ..... I agree that private pilors should retain their UK PPL, if the CAA allows that. I'm not sure the EASA PPL is a lifetime licence, the UK PPL was meant to be a lifetime licence. Who knows what will happen when we leave Europe.
As for the CAA fee of £70, based on 20,000 PPL holders that's is whopping £1.4 million to the CAA, cha ching. It is of note that the DVLA do not charge to change from the old style paper driving licence to the new european style photocard driving licence, other changes are £17 (online).