I don't see any reason not to raise the National Speed Limit (NSL) on motorways to 80 mph if the road can take it. As Howard has already pointed out it's not exactly uncommon for cars & motorcycles to be driven at that speed anyway.
Problems will arise, however, if the the limits for other classes of vehicles don't rise as well - and I can't see that happening. What people tend to forget (if they knew it in the first place) is that certain classes of vehicles have lower limits which are also dependent on the type of road. There's a handy chart in the Highway Code (Rule 124) -
http://www.direct.gov.uk/en/TravelAndTransport/Highwaycode/DG_070304.
But we're only discussing motorway speeds here which simplifies things a bit. Car and motorcycles will be able to run at 80 mph, but cars/motorcycles/vans towing trailers will still be limited to 60 mph, buses and coaches up to 12 metres in length will still be limited to 70 mph. And then there are goods vehicles over 7.5 tonnes (and up to 44 tonnes) that can do 60 mph. That last bit is a bit of a red herring because goods vehicles are physically limited by law to 90 km/h (about 56 mph).
As it is the speed differential that tends to cause the problem rather than the speed itself it might seem that an increase in the NSL just for cars and motorcycles is going to cause a problem. I don't actually think so, not if they're already doing those sort of speeds illegally.
Tom has hit on one of my favourite bug-bears though, a minimum speed limit! I am fairly certain that, many years ago, there was a minimum limit and I've hunted high a low to find reference to it, but without success. As some of you may know I drive HGVs for living and there seems to be an increasing tendency over the past couple of years for some car drivers to "dawdle" at around 50 mph on the motorway. These dawdlers aren't driving ancient machines that are incapable of doing higher speeds, these are modern cars well capable of doing the NSL and beyond. Certainly for us truckers coming upon someone dawdling can be highly inconvenient and potentially very dangerous. It's bad enough that many supermarket reefers are limited to 50 mph but to come across a high-powered car doing the same, or less, is quite scary at times. There have, I am told, been instances of these particular drivers being stopped and charged with dangerous driving, or driving without due care. But that is far less frequent than drivers being pulled over for speeding, and even that doesn't happen very often!
What seems to make a nonsense of the proposition, in my opinion, is the steady reduction of speed limits on rural roads. The prime example of this in our area is the Alkham Valley Road with it's 50 mph and 40 mph limits imposed where none were required - and are regularly exceeded, particularly by the residents of Alkham itself! I've had my say on that particular problem in this forum in the past so I'll leave that issue for another time.