Lord Black of Brentwood, who was a key figure in drawing up proposals for enhanced self-regulation, says Lord Justice Leveson's proposals are "profoundly dangerous" and would put a state regulator "at the very heart of the newsroom".
Lord Black, the executive director of Telegraph, told the House of Lords the press would "rise energetically" to the challenge set by Leveson of toughening up regulation.
But he added:
Could I draw your attention to paragraph 6.16 of volume IV of the report which states that 'the recognition body would be required to determine whether the standards code meets the statutory requirements'.
That would be a state regulator at the very heart of the newsroom.
Would you agree with me that, if the industry can make rapid progress in the task of establishing a new system, such a move would not be just be profoundly dangerous but completely unnecessary?
Lord Justice Leveson says a genuinely independent and effective system of self-regulation is needed.
First snapshot of Lord Justice Leveson's Inquiry into the Culture, Practices and Ethics of the Press.
Nick Clegg sources say it is inevitable there will be differences between his response to the Leveson report and the Prime Minister's.