An investigation into allegations of corrupt dealings between the press and the police will not go ahead under a new Conservative government.

The second part of the Leveson Inquiry into phone hacking was earmarked to examine the culture, practices and ethics of the press.

But the Tories have pledged in their election manifesto not to pull the trigger on the probe, arguing that the “comprehensive nature” of the first investigation means it is no longer necessary.

Meanwhile, the Conservative manifesto also promises to repeal rules which if enacted would force media organisations to pay the legal costs of both sides in libel and privacy cases - even for the cases they win.