Barber: 'We need to change the way we do business'

FT editor agrees that newspapers should be fined for serious breaches of the code.

Financial Times editor Lionel Barber has warned that national newspapers are "in the last chance saloon, drinking our last pint" following the News of the World phone-hacking scandal.

Appearing before the Leveson Inquiry this morning, Barber said the PCC's handling of the phone-hacking allegations at the NoW was a "serious misstep" that resulted in the watchdog "losing credibility".

He agreed when Lord Justice Leveson questioned whether the PCC was really or a regulator at all or simply a "complaints mechanism".

Read more at the Press Gazette