The battle lines have been drawn for next week's crunch Commons vote as the Conservatives and the Liberal Democrats and Labour set out rival plans for press regulation.
Both sides set out proposals for a royal charter establishing an independent self-regulatory body in the wake of Lord Justice Leveson's report.
Deputy Prime Minister Nick Clegg said the blueprint he had drawn up with Labour leader Ed Miliband represented a "strengthened version" of earlier proposals set out last month by the Conservatives.
"I have always been clear that I don't dismiss out of hand a legislative approach, I hope the approach we are publishing today plots a middle course between the dangers of doing nothing and the fears some people have around a full-scale legislative approach," he said.
"This is a system that both myself and Ed Miliband back, and that I believe Conservative MPs can also support. It reassures the press that there is no danger to their historical freedom while giving assurance to the victims that they will be protected from unwarranted bullying and harassment."
Mr Miliband added: "The royal charter proposed here would create a new independent voluntary system of self-regulation for the press. It has a code setting out the high ethical standards of the best in British journalism; a complaints procedure which is easily accessible and fair; and real teeth to ensure protection and redress for citizens."
Earlier, David Cameron welcomed the move by the other parties towards accepting a royal charter, rather than passing legislation to create a new regulator. The Prime Minister said that it was now essential that the matter was brought to a head and could no longer be allowed to "hijack" the rest of the Government's legislative programme.
Mr Miliband said the Labour and Lib Dem plan would include underpinning the charter with "the minimum amount of legislation needed to guarantee its success and independence over time".
"We want to ensure that future governments cannot tamper with the new system, either by watering it down under pressure from the newspapers, or introducing new draconian measures which would threaten the freedom of the press," he said.
He said it would also remove the newspaper industry's "power of veto" over appointments to the regulator, as well as giving it powers to investigate and to order "proper and prominent" apologies to be made.
