New open access policy in UK

The UK science minister, David Willetts, has announced a new policy: All publicly funded scientific research must be published open access. The Guardian reports:
Results of publicly funded research will be open access

The policy is published in the government document Innovation and Research Strategy for Growth. It says:
“The Research Councils expect the researchers they fund to deposit published articles or conference proceedings in an open access repository at or around the time of publication.” (pp. 77)