Media Bill
Debate between Lord Watts and Lord FaulksWednesday 22nd May 2024
(2 months ago)
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Lord Watts (Lab)
Is it not the case that 80% of our media is owned by five billionaires?
Lord Faulks
I am not precisely sure of the figures. Certainly, the ownership of the press is a matter of record. I am not in a position to respond to that. It is perfectly true that it is a relatively minor group of people. I am not sure quite what that has to do with Section 40. We are talking about whether someone can make a complaint adequately and whether that regulator is independent. I ask the Committee to express the view that it is an independent regulator. There is a manifesto commitment. It is time that this provision is repealed. I understand from what I have read in an interview with the shadow Secretary of State that the Labour Party does not intend to amend the current system of press regulation. I look forward to hearing reassurance that this important Bill, including this provision, will be the subject of discussions in the wash-up.