Liberal Democrat peer and barrister Lord Lester of Herne Hill QC has introduced a private member’s bill to reform the country’s ‘archaic’ libel laws.

The peer’s Defamation Bill is designed to clarify and modernise the law of libel, protecting both the rights to reputation and freedom of expression.

It would introduce a new statutory defence of ‘responsible publication’ on a matter of public interest; protect those reporting on proceedings in ­parliament and other issues of public concern; and require claimants to show substantial harm, and corporate bodies to demonstrate financial loss, in order to bring proceedings.

The bill clarifies the defences of justification and fair comment, renaming them as ‘truth’ and ‘honest opinion’.

It also tackles problems that have arisen from internet use, including multiple publication and the responsibilities of internet service providers. It aims to encourage the speedy settlement of disputes without recourse to litigation.

In its coalition manifesto, the government pledged a review of the libel laws.

Lester told the Gazette: ‘The government is committed to a review of the law of defamation with a view to protecting free speech, but not to legislate.

‘The purpose of my bill is to put forward legislative proposals in the hope that it will be taken up by government, improved and enacted. It is meant to be a catalyst for reform.’

He said: ‘The time is over-ripe for parliament to replace our patched-up archaic law with one that gives stronger protection to freedom of speech. This is an attempt to look at the law in a comprehensive way and modernise it, bringing it in step with the technological revolution.’

Lester said he hoped a new Defamation Act would be passed in this parliamentary session, which lasts 18 months.

Crossbench peer and human rights barrister Lord Pannick QC said: ‘Lord Lester’s bill will remedy many of the legal deficiencies that have made London the libel capital of the world and severely damaged freedom of expression.’