Companies will now not even need to maintain the pretense that all websites deserve equal bandwidth. Websites ISPs don't like will get short shrift and big companies will be able to pay their way to prominence. This means dissenting views can be marginalised on the internet and startup companies will now be even easier for corporate juggernauts to crush or "convince" to join their team so they get decent bandwidth.
I suppose it was inevitable but its annoying to live in a country on the vanguard of the end of the egalitarian internet.
The guardian have a full pdf of the speech where this was announced here: http://image.guardian.co.uk/sys-files/Media/documents/2010/11/17/EdVaizey.pdf
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