'Grave reservations' on press regulation, says Guardian editor

Alan Rusbridger, editor in chief of Guardian News & Media has said that he has "grave reservations" about proposed press regulation legislation relating to exemplary damages, but added that it has been a big improvement on existing regulation.

In a statement, Rusbridger said:

We welcome the fact that there has been cross-party agreement. The regulatory settlement is by and large a fair one, with compromises on all sides.

We retain grave reservations about the proposed legislation on exemplary damages.

The agreed terms are not ideal, but after two years of inquiry and debate we finally have the prospect of a robust regulator that is independent of both press and politicians.

It's a big improvement on what went before.

– Alan Rusbridger