As long as they don't mind paying a recent PhD 30K for their first lectureship then that's fine ... but I think that won't happen and young staff won't be apointed lecturers ... which is, in my opinion bad.
A step in the right direction for a profession in crisis (academia). Unfortunately there is still the problem of pay for Post Docs which is extremely poor when compared to what alternative professions graduates could go into. And until postdocs get paid a reasonable amount, many able students who would like to academic research and then possible teaching, will be put off when they see companies paying, less qualified individuals, anything from 8K per year upwards more than them, with better benefits and more respect.
I seem to remember the Rector saying that increasing scholarships for research students was badly needed. I think it was in the same vain as when he first said he would be looking to increase academic salaries. Hopefully, the College will now use this first step to pull up the levels of funding for postdocs.