The Royal Courts of Justice in London

In contrast to countries like the United States, the press in the UK already faces reams of statutory regulation.

Our libel laws are among the most draconian in the world - that's why foreign billionaires like to use our courts to silence their critics. The UK is the home of libel tourism.

We have strict contempt of court laws that are designed to ensure defendants get a fair trial and there is a fast-developing law of privacy that the press must abide by.

In fact British journalism's legal bible - McNae's Essential Law for Journalists - lists more than 85 statutes that reporters must be mindful of when putting together a story.

These include the Data Protection Act, the Official Secrets Act, the Sexual Offences Act, the Theft Act, the Obscene Publications Act, the Contempt of Court Act, the Children and Young Persons Act and so on.

Transgressions of any of these can, and do, result in substantial fines, damages and criminal sanctions.

Indeed, laws exist to prevent phone hacking, computer hacking, blagging and corrupt payments to public officials already.

The impending prosecutions of a number of Fleet Street's leading lights is evidence of this. Why do we need even more laws?