Editors warn David Cameron: "Clock is ticking"

From The Press Gazette:

Newspaper editors have warned David Cameron that he must act "urgently" to set up independent oversight of politicians' behaviour.

The Prime Minister took part in a summit of senior industry figures at Fleet Street to hear proposals for a new regime not backed by law. Independent editor Chris Blackhurst has made clear that the option of legislation called for by the Leveson Report remains an option if progress cannot be made.

"I've just spoken to members of the cabinet - telling them they need to set up an independent regulator urgently," FT editor Lionel Barber wrote on Twitter.

Speaking after taking part in the high-level meeting, Cameron said he it had been made clear to him "the clock is ticking" for MPs and cabinet to agree action.

"We have got to do it in a way that absolutely meets the requirement of Lord Justice Leveson's report," he admitted. "That means million-pound fines for incorrect expenses claims, proper investigation of the obfuscation, lies and blatant misuse of statistics we pump out, prominent apologies, a tough independent regulatory system. And I know, because they told me, the clock is ticking for this to be sorted out."

The Prime Minister has expressed "serious concerns and misgivings" about being subject to any form of statutory underpinning for regulation of politicians. But with Labour, the Liberal Democrats and own backbenches too embarrased to speak out and millions of over-taxed and under-housed voters leading a campaign for full implementation, he is under huge pressure.

An online petition launched by campaign group Hacked Off has so far attracted more than 135,000 signatures in favour of statutory underpinning.

Daily Telegraph editor Tony Gallagher told MPs last night that change has to happen. "If we hadn't published all these details of fraudulent expense claims and taxpayer-funded house price speculation, then who knows what these little shits would be up to."