A draft bill proposed by the Labour party this morning has been sent to the culture secretary to begin the drive to improve press standards.

After the lengthy Leveson inquiry, press standards need a radical revamp in the UK following the phone hacking scandals.

According to the Guardian, who were given the draft bill on Sunday evening, Labour "injected urgency" into the matter, and have published a six-clause draft.

The party have emphasised that the draft bill should ensure that no state body directly regulates the media.

In preserving the integrity and independence of the British press, the industry will want to find a way to ensure press freedom is maintained without stringent government control. Such regulation could hinder the progress made after the conclusions of the Leveson inquiry were announced.

It's vital that all parties find an appropriate legislation that prevents interference with the business and the expression of free speech. These are some of the important issues that will likely be at the forefront of any industry regulation in the future, that will have an impact on all media outlets across the UK.

Labour's draft press agreement this morning includes a new panel headed by the lord chief justice, a press regulatory body, special incentives for newspapers to join, and the protection of press freedom. British Prime Minister David Cameron has so far resisted media regulation.

It is notable that Labour have been the first major party to provide a first step proposal, and could indicate an eagerness to lead the new legislation on press regulations.