I am most grateful to the noble Lord, Lord Low, and indeed the noble Lord, Lord Stevenson, for their interventions. All I can say is that I have pledged to write to noble Lords to clarify the position further. The position at present is that Parliament cannot bind its successors. However, as the noble Lord, Lord Stevenson, said, we have confidence that this will be an enduring settlement.
The noble Lords, Lord Phillips and Lord Clinton-Davies, suggested that members of the press could side-step the self-regulatory umbrella. They could do that, but at their peril. To pick up the point made by the noble Lord, Lord Lipsey, those members of the press who chose to do so would be more likely to lose respect and therefore circulation and they would be liable to greater punitive costs.
Several of your Lordships raised the issue of entrenchment—that is the description that is used. Parliament is sovereign, so could this provision be amended in future? As the noble Lord, Lord Stevenson, rightly recognised in opening this debate, we cannot bind future Parliaments, but we have every confidence that this will be an enduring settlement, which is just a reiteration of what I said a few moments ago.
The noble Lord, Lord Low of Dalston, asked whether the regulatory body would be subject to interference from the press. As the charter sets out, the recognition panel will be independent of the press and will not be subject to any interference.
Noble lords have raised a number of points about whether this is indeed a statutory underpinning of the regulatory body. We may disagree about whether this clause is statutory underpinning, a “dab of statute” or something that avoids politicians fiddling with the royal charter, but I hope that we can agree that the agreement between the Prime Minister, the Deputy Prime Minister and the Leader of the Opposition is something which we can all support and which will deliver the tough press regulation that we all want to see.