In summary the report proposes: -
The 700 MHz band (694-790 MHz) is currently used for Digital Terrestrial Television broadcasts and Wireless microphones, this spectrum to be re-alloacted to wireless broadband by 2020 (with a +/- 2 year variance).
The spectrum below 700MHz (470-694 MHz) should be maintained for DTT broadcasts and should be given regulatory stability.
The Program Making and Special Events (PMSE) spectrum should be moved to the 800MHz band (823-832 MHz) and 1.8 GHz (1785-1805 MHz).
This will mean TV sets/etc will need a major retune in around 2018 to ensure reception and also new broadcast technologies (MPEG-4 and DVB-T2 - which is used by Freeview HD, but not all current sets/etc will support it).
It's likely PMSE will require new equipment (especially for radio microphones), but at least manufacturers have about 6 years to do this.