Nick Clegg speech to the Institute of Government

Nick Clegg speech to the Institute of Government; Nick Clegg speech (continued) SOT - I couldn't tell you every name I have been called by Fleet Street's finest, though the Nazi comparison during the election last year still stands out most / Like all liberals, I don’t want to live in a society where journalism is enfeebled and hemmed-in / So our challenge is getting the balance right, ensuring our media is as free as possible, but without sacrificing ethical standards or seeing itself as above the law / Which brings me to accountability / Over the last few years, there has been greater awareness of the impact of certain institutions on the public good, including professions such as the law, and institutions like the banks / And there have been huge improvements in the way professional and public bodies are now held to account through professional codes of conduct and independent scrutineers / The medical profession, the legal profession, financial services, the police, although they have some way to go, as recent events have shown / And all are now far more accountable for their behaviour / The media, however, has not kept up / Together, the political class, parts of the police, and the press have granted our media an institutionalised immunity from the basic standards that govern the rest of society / Clearly, part of the problem has been a monumental failure of corporate governance / As a group of investors said of News Corps earlier this week / And all media organisations, the senior staff and board at News International included, should now be looking very hard at the composition of their boards and their systems of corporate governance / But we also need to ask more widely whether corporate law in the UK does enough to push managers and directors into being more active / Something must be wrong when misconduct and lawbreaking can become endemic within an organisation while the senior staff do nothing / So we need to look at whether or not there is a fail...