The changes, of course, are inspired by the Hargreaves Review, which seems to have inspired more nonsense every time I look at it. Hargreaves it was who proposed new permitted acts to enable parodists to ply their trade without fear of being sued for infringement - as if good parody needs such a privilege, and as if it did not amount to removing a perfectly legitimate revenue stream for the copyright owner. The problem is that what passes for 'creativity' these days is less about making something pretty much from scratch (of course nothing is ever completely from scratch) but reusing and adapting what others have already created. Soon there won't be anything original to be found - perhaps that will remove the need to modernise copyright law.
The problem isn't that copyright works can't be reused, the problem is that too much is protected by copyright to begin with, and it would be far more constructive to raise the threshold for protection by making the originality requirement a bit more demanding - to require true originality, rather than mere independent creation. But that's another story.
In addition to the parody thing, the legislation will make some useful changes to Chapter III of Part 1 of the much-hacked-about Copyright, Designs and Patents Act 1988. The existing permitted act for archiving and preserving will be applied to all types of media, and to museums and galleries as well as libraries and archives. There will be new rights to copy material for private use and to conduct data analysis for non-commercial research. There will also be a new permitted act to quote copyright-protected content for purposes extending beyond criticism, review or news reporting.