Nilay Patel blogged from the launch of the Sony version of Google TV
5:53PM He's hitting the Dual View button to put the TV feed in PIP while he searches and browses on the rest of the screen. This is a very familiar Google TV demo -- and it's yet to be explained why you wouldn't just do this on your phone or laptop while watching instead.
So some or most of the functions of Google TV already exist, spread out over several devices.
Searching on "EX!to4" is a way to relate to local TV. With no investment required anywhere in the UK so that should suit the culture policy. Of course there could be something more like a channel later if there was some support.