Ofcom has realeased it's draft Annual Plan 2007/8 which sets out the policy framework and has published it for consultation.

The full document can be found here but is rather gerneralised, but luckily ISPReview have a breakdown of the five main objectives.

• Accelerating the development of a market-based approach to spectrum: continue to develop a secondary market in spectrum trading; release more spectrum to allow new services to develop; and represent the UK on international bodies to further Ofcom's aim of securing the optimal use of spectrum.
• Promoting competition and innovation in converging markets: promote competition in fixed-line telecoms, broadband, television and radio markets; secure competition and investment in next generation networks; assess how wireless platforms will contribute to convergence; and identify potential new sources of market power that might emerge through convergence.
• Enabling services that are important to UK citizens as platforms and services converge: review how Ofcom protects viewers and listeners through content regulation; promote access and inclusion in the availability and use of communications services; and maintain diverse and high-quality content in public service broadcasting.
• Improving industry compliance and empowering consumers: make enforcement more targeted and effective; ensure that consumers can switch providers quickly and easily; and help people acquire the skills, knowledge and understanding to use communications services effectively.
• Moving towards more consistent legal and economic frameworks: Ofcom will begin preparatory work to examine where it is desirable to move towards greater consistency between legal and economic frameworks which govern different communications platforms.