David Willetts, the UK Minister for Science and Universities, has issued "Government Response to the Finch Group Report: 'Accessibility, Sustainability, Excellence: How to Expand Access to Research Publications'."
Here's an excerpt:
The Government has listened carefully to what publishers, learned societies and the Finch Group collectively have had to say on this issue. We prefer the 'gold' over the 'green' model, especially where the research is taxpayer funded so the Government agrees with the sentiment expressed in the Finch Report. Embargo periods allowed by funding bodies for publishers should be short where publishers have chosen not to take up the preferred option of their receiving an Article Processing Charge (which provides payment in full for immediate publication by the 'gold OA' route). Where APC funds are not available to the publisher or learned society, for the publication of publicly-funded research, then publishers could reasonably insist on a longer more equitable embargo period. This could be up to 12 months for science, technology and engineering publications and longer for publications in those disciplines which require more time to secure payback. Even so, publications with embargo periods longer than two years may find it difficult to argue that they are also serving the public interest.