I think it's excellent news. We are struggling to find a replacement for our senior partner who is retiring in March and I'm probably going to need to work more hours than I want for a few years. There are several GP vacancies in the area, plus a shortage of many hospital consultants.
I don't think having to work for the NHS for 4 years after you qualify is that unreasonable, if you don't fancy it then don't study medicine. We need doctors, not just people with medical degrees.
We also need 50% of medical students to become GPs.
As general practice covers all of medicine and GPs need a greater breadth of medical knowledge than most consultants I do feel that if you are thinking of being a doctor but definitely don't want to be a GP you probably don't really want to be a doctor.
I think there should be an incentive to stay in the NHS, particularly in areas of need though, like reducing your student debt or abolishing it after x no of years' service.