Yes, this is true.
2 main strands:
1. Reduced theoretical knowledge requirements - it is intended that much will be transferred to the CPL(A)/ATPL(A) syllabus.
2. Flying may be undertaken in 2x10 hr modules before the course, followed by a 30 hr IR course.
Any reduction in requirements should be welcomed. However, this does not go far enough as it is still far more than ICAO actually calls for.
In my view, the UK should press for a 2 module approach - one of 15 hours and one of 35 hours. Credit for the 15 hours should be sought for UK IMC Rating holders; currently they will not receive any such credit and ALL 50 HOURS will have to be flown at a FTO, not at a RF.....