The newspaper industry firmly rejected the Government's Royal Charter proposal on press regulation and published its own plans.
A statement co-ordinated by the Newspaper Society said the new proposal has "widespread backing across the industry" and would deliver:
- Tough sanctions - with the new regulator able to impose fines of up to £1 million for systematic wrongdoing.
- Full and prominent correction of inaccuracies.
- Strong investigative powers enabling the new regulator to investigate wrongdoing and call editors to account.
- Genuine independence from the industry and from politicians, with all the bodies making up the new regulator having a majority of independent members appointed openly and transparently.
- Public involvement in the framing of the Code of Practice which binds national and local newspapers and magazines.