The transcripts of the official inquiry into the culture, practices and ethics of the press. More…

Thank you, Mr Caplan.

I take very much on board what you've said about the First Amendment, but should I not be able to draw a conclusion that the way in which regulation operates in this country at the moment does not necessarily, or indeed particularly at all, reduce its commercial effectiveness from the fact that the MailOnline has such an enormous readership in the United States, where it is commercially apparently successful, so I've been told?

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