Thanks for the links, Meditrina. You always seem to know where to find the information! 
This is the first time I had heard of this plan, and I have mixed feelings. Here are some of them:
'Funding only for 2.2 degrees or above
Graduates who do not have at least a 2:2 degree will no longer be eligible for DfE funding for initial teacher training from September 2012'. Agree.
BUT
'Teach First, the scheme that recruits graduates who would not otherwise have considered teaching to work in some of the country?s most challenging schools, will be expanded'.
Is this code for 'Less well-qualified graduates will be sent to more challenging schools'?
Teach First will also develop Teach Next, a new employment-based route to attract high-fliers from other professions. Teach Next will provide an accelerated route to leadership and will begin recruiting in 2011. Sounds good.
Troops to Teachers - interesting idea - could be good; reserve judgement.
Review basic skills tests - yes, good idea.
Financial incentives for shortage subjects - yes, agree.
Expand school-centred training
The plan is to increase the proportion of time trainees spend in the classroom, focusing on core teaching skills, especially in reading and mathematics and managing behaviour. Yes, good idea.
But this is what bothers me:
A network of Teaching Schools based on the model of teaching hospitals will lead the training and professional development of teachers and headteachers. Teaching schools will be outstanding schools which will take a leading responsibility for providing and quality assuring initial teacher training in their area.
1 What I said in my first post. If it ain't broken, why fix it?
2 It's being sold as something schools could aspire to, as if it's going to benefit them. Imo although it might raise their status in the community, the children who are being practised on by trainee teachers might suffer as a result.
3 Why only the 'outstanding' schools? By definition, the 'outstanding' schools don't need any more help (I'm accepting for now that this could be good for a school and assuming money will be poured into this). Also, again by definition, most schools aren't outstanding and teachers have to learn to cope with all sorts of children, not just the most fortunate.
Would be interested to read any other views on this.