It is likely that politicians will reject proposals for self regulation from the press, a source has informed the BBC. Conservatives and liberal democrats serving on the sub-committee of the Privy Council have said that the proposals brought forward by the industry were "flawed."
The Privy Council is the body responsible for advising the Queen on whether or not to grant a Royal Charter to a new regulatory body for the press. The proposals for regulation advanced by the press included empowering the new regulator to "require" instead of "direct" how newspapers would deal with corrections. Whilst both sides of the coalition have been critical of the press plan the conservatives have been more hesitant to embrace further regulation of the press with education secretary Michael Gove warning last year that such measures could "curtail liberty."
Danny Alexander, who chairs the sub-committee has insisted that no decision has been taken.
A government source told the BBC's Nick Robinson:
We want workable press regulation which must not be seen as punishment for the press. Lord Leveson made clear that regulation needed the support of both the public and the press.
The Privy Council will announce its decision on the press proposals on Wednesday. The decision on an alternative regulatory body will be made on 30 October.
Privy Council members who will be deciding which system wins out are:
Danny Alexander (Lib)
Chris Grayling (Con)
Dominic Grieve (Con)
Francis Maude (Con)
Lord McNally (Lib)
Maria Miller (Con)
Lord Wallace (Lib)