I think it all comes down to the money.
So I have no problem with somebody saying here is the cash that you will require to support your child - ignore waiting lists and bureaucracy and go off and spend it, if you need any more, just ask. However, I am not sure that this is the plan...
Also, re: these changes I accept that there many be children who are on the borderline of being classified as having 'special needs'. However, if a child has not yet learnt to read, and the teacher needs the class to be able to read in order for them to access the material she is providing, this child will still need support, whether you call him SN or not. Removing the label or sacking the teacher
doesn't remove the need for help, or the need for funding for that help.
And another thing (!), I suspect that as much as some children may be classified as SN when it could be argued that they aren't, I am sure that here are plenty of children who should have an SN label, but miss a label because of their background/speaking English as a second language, so I am not convinced about of children wrongly identified as having SEN'
Anyway, presumably, if a child requires additional help, that will still need to be specified in writing and agreed, so I think there will still be statements. They will just be called something different and everyone will be a bit mystified for a bit.