Evening Standard comment: Press must still hold the mighty to account

It appears that, finally, a new deal on press regulation is within reach, following late-night negotiations between the three main political parties. The deal will establish a new press regulator backed by a Royal Charter. Both the Conservatives, who had fought shy of the statutory controls proposed by Lord Justice Leveson, and the Liberal Democrats and Labour, who had backed his proposals, will claim victory. Now we have to see what concrete arrangements emerge from this compromise — above all, the shape of the new regulator.

The Leveson inquiry uncovered shocking behaviour from some of the press. It is sad for more responsible sections of the media that papers like the News of the World let the rest down so badly — especially when some of the tabloids’ actions were already illegal but had gone largely uninvestigated by police. But now we have to deal with the consequences. Self-regulation through the Press Complaints Commission had clearly failed to deal with rogue elements: after Leveson, some kind of binding regulation always looked the likely outcome. Today’s deal has been the product of long wrangling, but those discussions have been conducted in good faith on all sides.

What now matters is how the new system works — which is as yet unclear. This is not automatically the end of press freedom, as some have claimed. But the new regulator has a worrying potential to curtail serious reporting — if not directly, then through chilling the broader journalistic environment. We have to make sure that does not happen. The regulator is likely to have powers to fine papers that breach standards and award compensation to victims of wrongdoing. That could work provided the body is genuinely independent from political interference, and provided it tackles only genuine abuses — and not simply coverage that annoys the powerful and the rich. Our free press, unlicensed for centuries, has proved an essential guarantor of our democracy. Its basic function of holding the mighty to account must not be damaged.

WHILE the Chancellor is unlikely to announce major economic stimulus in his Budget this week, he is at least set to continue support for key London infrastructure. Projects that will benefit include the Northern line Tube extension to Nine Elms, the Thames “supersewer” and home building in the capital. Those will all create large numbers of jobs and answer important needs. The Tube extension is essential for the redevelopment of Nine Elms in Battersea. Thames Water’s supersewer is expensive, at £4.1 billion, but the project is essential if we are to stop raw sewage pouring into the Thames every time it rains.

Most important of all, though, is promised support for first-time buyers and changes to planning for housebuilding. Rising rents and the continued scarcity of affordable homes are creating a real crisis in the capital’s housing — the subject of a debate hosted by this paper this Wednesday. Anything the Chancellor can do to stimulate housebuilding in London could help ease that crisis — as well as give the economy a welcome boost.

THE huge response to the Victoria and Albert museum’s David Bowie exhibition — 42,000 people have bought advance tickets — is not surprising. It will feature the artist’s costumes, music and instruments as well as collaborations in film, photography and fashion: his influence remains huge. And he’s a Brixton boy too: a great cultural export from south London to the world.