The 2000-page report will be responded to with a statement from both leaders to the lengthy inquiry into press ethics which criticises UK politicians, newspapers and the police.

Reports that Clegg insisted on making am ‘unprecedented’ separate statement on behalf of his party rather than the standard coalition have been confirmed.

A source in the Liberal Democrat party told The Guardian “Do not look at this as some massive split on the issue, or the coalition at loggerheads. That’s not where we are. Nick slept on this overnight and took the final decision this morning…Nick thought it was right to seek an opportunity to set out his stall as one of the three main party leaders.”

According to the Financial Times, Cameron ‘may be preparing to resist any calls for…tight control of British newspapers.’ There is speculation that Cameron could reject recommendations from Leveson, whereas Clegg is said to be in favour of new laws and statutory press regulation.

In a statement printed in The Sun, the chief executive of disgraced media group News International, Tom Mockridge said “The people who argue for state regulation are saying they are going to trust the politicians in this country for another 300 years not to exploit that. That is a trust too far.”

86 MPs signed a joint statement yesterday warning that “Statutory regulation of the print media may shift the balance to the digital platforms, which would further undermine the position of properly moderated and edited print journalism.”